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20121226
20121226
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MSNBC
Dec 26, 2012 8:00am PST
are feeling right now, gang. about the fears of the fiscal cliff. deal likely at 50%, deal not likely at 48%. and this is gone down continually as we have seen, lynn, over several days, whether more optimism before the christmas holiday and continues to evaporate the closer to the cliff but talking about what the president can do coming back, can it about a small stop gap measure to save people after the 1st? >> it could be and i've always thought that the they know if they don't at least do a stop gap which is in their power, therefore, they would probably do it. it means that the december deadline, december 31 deadline that's looming may not really be the deadline. i think it's more like january 3rd, noon, when the new congress is sworn in. that's when they have to do their math to see where do they have -- if there's any hope of a deal, a democratic deal, where you need 20, 30 min votes or true bipartisan deal and no one thinks will happen. now people are just working some numbers to see which would work best if you don't get anything by the end of the year. >> alice, based
KRON
Dec 25, 2012 11:00pm PST
. the president is returning to the white house to work on a fiscal cliff deal before the year ends. house and senate members are going to reconvene without an agreement, automatic tax increases and that will be triggered in the new year. it looks like few people season. retails are the weakest. holiday sales increased. and they expected them to go 6 to 4%. it's blamed on super sandy which stroke the east coast but let us not forget why obama is returning from hawaii early. the lawmakers will be able to reach a deal. >>> we have rainfalling across the bay area and some heavy showers and departing san jose out of the santa clarita valley but there's showers coming in and i'll let you know on storm track 4 coming up. with my keurig vue brewer, i can brew my coffee just the way i love it. how do you do that? inside the brewer, there's this train that makes coffee stronger, bigger, and hotter! actually, i just press this button. brew what you love with the keurig vue. >> we have wet weather still falling across the bay area and here's live storm track, but the rain is gone for this even
FOX Business
Dec 26, 2012 5:00pm EST
to fly back to washington in the next few hours to try to scrape out a fiscal cliff deal but hope is fading fast. if that weren't bad enough, the treasury now says the u.s. will hit the debt ceiling on new year's eve. will this be a game-changer for reaching a deal? >>> plus as if the fiscal cliff wasn't bad enough, now critical ports across the u.s. could be brought to a standstill starting this weekend. we'll explain how a looming union worker strike could sink businesses across the united states. >>> the major sports leagues do a touchdown dance after a federal judge's ruling. their lawsuit to spike sports gambling in new jersey get as crucial green light but new jersey isn't taking it sitting down. details how that state is fighting back and preparing to give vegas a run for its money. even when they say it's not, it's always about money adam: thank you for joining us. we want to look first at the day's market headlines. stocks slid for the 30 straight session. mediocre holiday seas and deadlock over fiscal cliff gave investors little to get excited about. the dow fell 24 points.
CNBC
Dec 26, 2012 5:00am EST
course, going to be waiting with baited breath to see what happens with the fiscal cliff. thank you very much for joining us from mastercard advisers. >> terrific. thank you. >>> the u.s. economy is hanging in the balance with just five days left for congress to come up with a deal to avert the fiscal cliff. let's get to our senior economic reporter, steve leesman, with his predictions for the economy in 2013. >> reporter: >>> trying to figure out what's going to happen in 2013 depends on one very important development -- whether the u.s. goes over the fiscal cliff in a few days' time, and for how long. if it's avoided, there's considerable upside for the economy. we could see at least one and maybe two quarters of growth above 3%. the kind of growth that would put people back to work and lower the unemployment rate. why? because business has been holding back investment amid the uncertainty. unleashing business spending would add to the growth from the nascent rebound in housing and from the consumer who has hung in there despite tough times. in fact, we could see unemployment drop below 7%. although it might first rise, more work into the work force who have been discouraged but can't find work. then could it fall. as for the fed, i think the market may be overst
MSNBC
Dec 26, 2012 6:00am PST
compromise. if you think about it, they have less than a week to get a deal to avoid the fiscal cliff. not a lot of time. how did we get to this point? taking you back to last week, you remember john boehner tried to get that alternative bill through the house. his own bill. he didn't have the support to do it. it fell apart. now things are in the senate and it will be up to harry reid and mitch connell and the president to try to come to a compromise to avoid the tax hikes and spending cuts that go into effect on the first of the year. president obama had been working with house speaker john boehner and trying to get a big deal that dealt with tax reform and deficit reduction. that fell apart and talks have largely been stalled this entire time. there was a lost pressure to get something done. we have seen some of the impacts of the fiscal cliff. consumers saying they have been more cautious with their holiday spending because of the uncertainty in washington. economists warn it could get worse and the markets could be foiled if we go over the fiscal cliff. taxes will go up for the a
KRON
Dec 26, 2012 6:00am PST
(male announcer) live from the bay area here is your kron 4 news >> we are following the travel day, a lot of people are heading home today. there is severe weather in other states but it could slowdown your travel here. this morning everything was good traffic wise what we are getting wet. >> we are getting wet. we will start in the north bay and we can see we have light rain and nevado in san rafael and whitaker. there is a brief heavy showers may be of to a quarter inch of soil per hour. otherwise it will we moving through fairly quickly. we're not too concerned about the flooding from the showers we're seeing this morning. if you have a little further south in berkeley you are looking at an area of light rain. san leandro crossing 580 also moderate rain showers. foster city >> crossing to 80 as well in the south bay. heading further in the south bay you are also looking at areas of light rain to moderate as well. san jose has scattered showers this morning and heading into san francisco we have some pretty good moderate to heavy rain coming through. pacific heights and also into the heart of san francisco you can see we are looking at some pretty wet roads up there. it looks like the showers will mainly last a few minutes but they have been coming through and we believe we could see towards presidio boulevard and second avenue a few showers. there is a potential for maybe some hail and also a slight chance for a stunned thunderstorms as well. we'll keep you updated as well as talk about the winter storm warning that is in effect a little bit later. here is george with traffic. good morning >> good morning we have reports of extremely heavy rain reducing visibility and hydroplaning here on interstate 580. the worst problems have been reported in the nine commute direction. this is these bound added up the dublin grade several accidents have been reported there and a number of people have reported sliding across the lanes because of hydroplaning. it is dropping a lot of water in this area right now. the commute direction of 580 does not look bad, light traffic there. the bay bridge toll plaza does not have metering lights on yet but we do see the beginning of some slowing traffic for the cash lanes. interstate 580 and highway 4 is pretty light and those are usually the first areas to show the heavy traffic. south bay and its lead and we do not see any typical commuter congestion. >> of we do see several flights had been cancelled around the united states in various locations this morning. we have our fingers crossed the bay area so far but now we are going to mike pelton who is live at s f o. >> the rain is beginning to fall in that makes it more problems for travelers. here's video from inside the terminal, a lot of people are coming here and heading home from their vacation. jim leyland the more respected and has an airport or a holiday season. >> it is a big city, i'm used his small-town minnesota so is interesting to see all of the flights in general. >> good news for travelers so far there no delays in or out of s f o. that of course, could change with the weather but we will continue to monitor that this morning. a very busy day is expected here at the airport. >> looking at business news investors returning from christmas are looking for some news reverse the recent slide in stocks. it will be tough to find that holiday cheer in today's news slow. u.s. stock features are flat following the market's slide during monday's thinly traded session which was stored for a holiday. investors remain concerned that congress and the administration will be unable to break the deadlock in talks to resolve the looming fiscal cliff crisis. president obama is ending his out vacation in hawaii today to make a late bid to reach a deal before the year and. the white house that he should be back in washington tomorrow when house and senate members are expected to reconvene. new this morning a car bomb had outside the u.s. base in eastern afghanistan has killed three people and injured six civilians. afghanistan police say the blast killed a security guard and two truck drivers delivering supplies. the tal bang claims responsibility for the attack which happened after a minibus stop at a deep for a security check. the international security assistance for says the base has been secured. if sampras as the woman will be arraigned today on charges of vehicular manslaughter that killed one pedestrian and injured two others in the twin peaks area. the 56 year-old died last week after a car hit her at the twin peaks lookout point. police say the driver was intoxicated. the victim's son told us he doesn't want another family or to suffer through this bad as they feel all because someone drank too much and decided to drive. >> think about the consequences. my family, i had a perfect family, a perfect mom. now, everything is gone. >> the driver of the card 23 year old gina eunice who you see here faces several felony counts including vehicular manslaughter while intoxicated. coming up on the kron4 morning news at starbucks makes a political statement with its cups. what is it trying to prevent from happening in washington? heading to the tahoe area vernier's we can? we have new information about conditions in the area you will want to know about. and happy birthday to muni. ! what it's giving you for its 100th year of service.... >> 6:09 a.m. is the time and you may want to sell up as we continue to watch gas prices across the bay area. the average price per gallon of regular gas is $3.60 in san francisco this morning. in the south bay the price is $3.48 today in san jose. across the bay in oakland, the average is $3.49. this all compares to the state average in california at $3.52. starbucks is launching a political campaign this week it helps to get the ball rolling on at averting the fiscal cliff. in a letter to starbucks employees made public this morning, chief executive howard schultz ask employees at its approximately 120 d.c. area stores to write come together on coffee cups when serving customers tomorrow and friday. starbucks plans to buy ads in the washington post and new york times loitered in the week as part of its come better campaign. rumors that the second generation ipad mini with a rat in a display is set to launch a head of apple's typical annual schedule next year have been swirling. it appears abels full-sized ipad may be sticking to its new semi annual release schedule. new reports suggest apple plans to launch a new thinner, lighter and 9.7 and ipad as soon as march of 2013. the fourth ipad model was just released last month along side the ipad mini, the march was also suggested in recent rat not ipad mini rumors. the time is 6:11 a.m. and we will be back in a couple of minutes. a live look at the approach to the bay bridge toll plaza. an oakland is 51 degrees, that seems kind of warm to made. the high will be 56. with rain yesterday we have what roads today. we have the bright lights for the pirates scored new year's eve party getting started at 11:30 p.m. on december 31st. óó >> this morning and have alleged acts warning has expired on lake tahoe. sierra nevadas years enjoyed a fresh blanket of snow on christmas. caltrans also issued a warning to drivers making sure they had a chance to drive through the area. steady snow will continue throughout this morning. it is always one of those questions of if you can get there you'll love the snow. >> we saw some rain here which meant snow in the sierra nevada. it is really scattered and nature and you can see how san rafael has a small cell producing moderate to heavy rain in the east bay. and sam francisco just east of daly city and also downtown there is a pretty good-sized sell going through there. they're all looking at light rain that is coming through as well. further south in the peninsula of menlo park and the peninsula have monday you're looking at hat light to moderate showers. cupertino and sunnyvale is also looking at what conditions this morning. right now things are looking like they're moving through fairly quickly. we do not expect these to last a long time, just a couple of minutes. also hail and the chance for some thunderstorms today. scattered showers may also experience and gusty winds out there is to bring a jacket. showers decrease in the afternoon and maybe some clearing in the north bay. temperatures right now are not too bad, 51 in oakland, 41 in downtown san francisco when forties widespread for concord in vallejo. napa and santa rosa are chile's five at 39 degrees. the bulk of the system went through yesterday but lake tahoe, a look at all that low. that is a lot of fresh powder from the ski resorts. winter storm warning is still in effect for the western slopes of sierra nevada until 11:00 tonight. fresh power today three to 6 in. bringing the total up to 2 ft. in some locations. winds with gusts up to 45 mi. per hour. at 8:00 this morning just some scattered showers and they will be possible throughout the day. they will decrease as the day continues, especially by tonight. highs for today, 56 and oakland 53 in downtown san francisco mid '50s for half moon bay. a lot of us will make it into the 50s. sandra feldman only get to 49 degrees today. 7 day around the bay is a little wet today, especially this morning also breezy at times. tomorrow morning lots of sunshine lots ohigh of 53. monday and tuesday as we head into the new year holiday and parties for years see if we are lucky to be dry and a little milder. 6:18 a.m. and here is george with traffic. >> good morning and happy boxing day to all. a good ride around the bay area, we are not seem to me delays right now. at the bay bridge the metering lights have not been activated and there is no back up. at the top of the hours used when there is a shift changed so the catch lanes could back up a bit. the san mateo bridge looks good although it is a wet one there. we have seen a few accidents that have followed the right around the bay area. the golden gate bridge is set up for the look for lane southbound. the east shore freeway ride as not yet increase the drive time and it is still 12 to 14 minutes from hercules to berkeley. san ramon valley ride is problem free and no delays to antioch on highway four or through the of the mob has on westbound interstate 580. we had reports that there was heavy rain a while ago and that resulted in a couple of accidents on eastbound interstate 580 on canyon road and the right lake is most likely still blocked. the north bay ride is is 21 minutes from about up to the golden gate bridge. >> many is providing free services friday to celebrate its 100th year and service. it includes free service on buses, light rail lines, cable cars and streetcars. the complementary service begins at 5:00 friday morning and runs until 5:00 a.m. saturday. friday will be the last time this year muni offers of free service to its passengers. as it does every year, muni will offer complementary trips on the year's eve with rides being on the house from 8:00 p.m. to 6:00 a.m.. an enormous storm system that dumped snow and sleet on the nation's midsection and unleashed damaging tornadoes are on the deep south has begun putting its way toward the north east, slowing holiday travel. on the left is guy tracker for showing as the national radar right now. on the right is see more indiana. they have a good amount of snow there and no one is going anywhere fast. here is video from arkansas. you can see this note roads and these are ideas the emergency crews tried to clear the roads. this is what they woke up to in little rock ark., a lot of car crashes. it has moved out of oklahoma and is moving northeast of arkansas. blizzard conditions are also basel for portions of illinois, indiana and western kentucky. >> container boxes come through the building the roof cam off our fuel island and that's about it. it lasted about four seconds. >> of force against >> 4 seconds, that was it. >> when he came out and saw this what did you think? >> met they got, live >> and mobile alabama of people are cleaning up this morning after a tornado touched down on christmas night. it looks like a large fog club's parking electricity. the mobile fire department reported downed power lines lines and downeas well as damage to the local high school. the vast storm system stretches across member states as the blame for three deaths and several injuries though no one was killed outright and the tornadoes. we will be right back. >> the time is 6:24 a.m. and watching the weather here is a live look at the golden gate bridge. the current temperature and napa is about 40 degrees. and then it will be 50 in the high as 53. 8:00 the local down into the lower '40's. we're looking at areas of rain in showers this morning. many of your head it up to lake tahoe today in a look at highway 28 and highway 67. we have a winter storm warning in effect for the western area. a lot of fresh powder you will see on this camera shot here. there is a lot of snow on the roads there. it is knowing right now as we speak and upper elevations. up to 6 in. possible today bringing this storm total one to 2 ft. of snow. great news for skiers and snow boarders. >> police in western new york have found human remains inside a home where a deadly trap was laid for two volunteer firefighters. william spangler set fire to is all and then wait and wait for the flyers to show up. when they did he shot and killed two volunteer firefighters on monday and wounded two others. authorities say they later found him dead from an apparent suicide. they believe the human remains along to his sister. >> we did locate the pair of remains and the house and union like road. the medical examiner has to remove those remains. 191 lake road was where the shooter resided with his sister. the medical examiner will be working on identification and i assume that will take quite a period of time. the assumption is that is the shooters sister. >> all seven paws were destroyed because they had to wait until the firefighters could get and. the time is 626 a m and this might even see the james lick is wet but it is moving ok at this hour. travel is light and a lot of people had the day off. wall street does not, we are just a few minutes from the opening bell. >> welcome back the time is 629 a m in just a minute away from the opening bell on wall street. the futures were flat this morning so we will keep an eye on that. first we want to get a look on weather and traffic because it is still raging out there. >> it is. we are looking at heavy showers this morning. storm tracker 4 so it is a bit of an act of morning today. san mateo and south bay's it was looking at pretty decent rain fall. richmond looks moderate to heavy rain but these are moving freely for fairly quickly through. all this stuff is having basically south east. berlin games and its tail foster city are also looking at moderate to heavy rain. palo alto lost out those when you see the yellow that is the moderate rain falling. it is really coming down as sunnyvale and millipede is in parts of san jose. we're expecting wet conditions throughout the morning and also showers will decrease by the afternoon. it would give you some time to do your returns are shopping without any problems. >> a quick check of traffic shows a libri it right on the bay area bridges. we're not saying much yet in the wake of a commute this morning. in the east bay we do not have it heavy traffic on these all somewhat or highway four through antioch. these are indications of what we can expect to be a pretty light ride. the south bay peninsula and at the north bay as well. >> if you are going by air more than 300 flights have been cancelled around the united states this morning. not in the bay area though so far. so far so good as far as delays go but we do see rain. storms and other areas that have a domino effect here. mike pelton is watching things at s f o for us this morning. >> have been following what turns out to be a wet commute here this morning. thousands of travelers are making their way here or sfo officially marking the end to a lot of holiday vacations. there is video from inside the terminal and a lot of people are heading home to sing christmas with family and friends. more than 2 million people are expected to vaster as f o during the holiday season. that means they're a lot of opportunities for problems to arrive. i spoke with one family who was trying to get to canada and marty run into a nightmare scenario >> this morning we got all the way here with two kids and all of our staff packed and tried to check in our baggage is and found out my wife's past four is expired. >> what will tell you that among >> we don't really know what to do at this point. >> there are no large it back ups or delays coming in are out of the airport this morning. that could change with the weather of course. we'll continue to monitor that and pass on a delays to you. >> and zero look at the hugs' goodbye after the christmas holiday! that is so sweet. officials have been scrambling to repair a levee in east palo alto that was reached during heavy rains over the weekend. cruz and placed sandbags where the severance speedo clique creek topped the levy. sunday's flooding forced people and seven also evacuate. at least one of several damage that made it on and habitable. the flooding on the creek was the worst in six decades. >> we found the flows the other night where the third worst flows since the '60s. i don't think we're going to see anything like that so we should be ok. >> the city is convinced that the word then to a repair the creek was to be sufficient to hold back any further flooding. i street late race between two vehicles and vallejo leads to a hit and run accident on broadway street sending eight it year-old man to the hospital in critical condition monday. police that neither vehicle stopped after heading the pedestrian. investigators are checking survey with cameras in the area for clues of the hit and run case. anyone with information can call a vallejo police department. 6:34 a.m. and thanks for waking up with the kron4 does. it would be nice if the weather would cooperate with it is still raining out there. you can see them rain here on the san mateo bridge. traffic is that there didn't yesterday but this is not too bad. we will be right back. >> look back 6:37 a.m. and looking at the forecast. now that we have christmas behind us, we have new years ahead. looking at the rest of the week and how it is shaping up. the rain as lighter today than it was yesterday. this is video from yesterday which caused headaches for some drivers. this is from embarcadero and san francisco and chp is warning you to slow down because there is more rain expected today. in the north bay thousands of gallons of water gushed into the streets after a water main broke near fairfax. dozens of homes had to be without water for a short time. they had to service for at palo love. there were various accidents and problems and slowdowns. i got caught in traffic for a good hour because of an accident. a member of the sierra nevada ski resort patrolled saying was caught at an avalanche and has died from his injuries. he-went to a rain also after he was buried in a slide that had been intentionally set with an explosive device by a senior member of the ski patrol team. the team was doing avalanche control in an area on the backside of the resort. resort officials say the avalanche broke much higher and water on the slopes and in the past snow safety missions. 639 right now and it looks like your small u.s. how the holiday retail sales this year are the weakest since 2008. a report on holiday sales increase by just 0.7%. analysts had expected sales to grow 3 to 4%. much as our fog to me by end of super storm sandy let's not forget the reason president obama is returning from hawaii early, the fiscal cliff. the summers are nervous that lawmakers will be unable to reach a deal. samsung is seeking a ban on the import and sale of some erickson products in the u.s. escalating a dispute over patent fees. the company is seeking to ban erickson products that allegedly violate seven patents. the complaint at the trade commission followed a dispute over mobile technology patents that erickson brought before a u.s. district court after the two sides fail to agree on licensing terms. in november, erickson at said that samsung is secret seeking to drastically reduce the fee it pays to license patents. facebook has poked its way and to the top ranks of mobile apps yet again. the social media company but smaller developers on notice last week with the launch of its new pope at for iphone. the app mimics snap chat is a popular at the teens' that allows users to send images that self-destruct moments after the recipient reviews it. pope immediately rose to #one on the iphone. thanks to the it aggressive mobil development cut their competitiveness they spoke on three of the top 10 iphone apps of 2012. the other too our flagship facebook and instagram which failed facebook acquired for 1 billion. ♪ [ female announcer ] no more paper coupons. no more paper lists. [ dog barking ] no more paper anything. safeway presents just for u. save more. save easier. saving more, starts now. just for u on the safeway app. >> christmas vacation is cut short for president obama who will be leaving hawaii tonight to return to washington d.c. when congress returns. the press as returning to the white house to work i fiscal cliff deal before the year and. without an agreement automatic tax increases for everyone in the spending cuts will be triggered and the new year. an enormous storm system of snow and sleet of the nation's midsection enemies damaging tornadoes are on the deep south has begun putting its way toward the northeast, slowing holiday travel. >> storm tracker for tracking the showers we're seeing an let's resume and these areas. you can see it is at very scattered in this area. the shower is rather berkeley while my creek but they are very light right now. palo alto and east palo alto and the fattal of valley as well use the moderate to heavy rainfall. cupertino, this san rafael, san jose getting a lot of rain this morning. you can see out toward santa clara and downtown san jose looking at very wet conditions. rain coming down up to half an inch an hour but these are fairly fast moving headed to the south east. they will only last a few minutes. this morning scattered showers are likely anyway also experienced some gusty winds. showers are expected to be on the clyde decline at this afternoon. tonight showers will and any skies will clear out. temperatures right now are not too bad but still in the lower '50s in oakland. upper 40's in downtown san francisco and chilly in santa rosa and napa at 39 degrees. sunnyvale is coming in at 44 degrees. satellite and radar shows a big storm we went through yesterday's producing lots of snow for our lake tahoe ski resorts. the skiers and snow boarders love it. taking a look of the winter storm warning that is in effect tonight and sell 11 for the western slope of sierra nevada. the storm totally brought to one to 2 ft. of lots of fresh powder with when the gusts up to 45 mi. an hour. scattered showers are of the morning hours and also early this afternoon. the showers will be on the decline as the is the later part of the day today. if you have shopping or returns to do you should be ok by the afternoon. i is for the day 53 in downtown 56 in oakland 53 and pleasanton and the north bay temperatures are getting up to 53 in santa rosa. san rafael is 49 degrees. 7 day around the bay is a bit breezy today and especially this morning scattered showers throughout the day. thursday, lots of sunshine and higher around 53 degrees. friday and saturday at chance for some showers but not anything to heavy. we are looking dry and mild for new year's eve and new year's day. it is 6:48 a.m. and here's a look at your traffic with george, good morning. >> i thought we run to do some small bomb but that's ok. here is a look at your ride on highway 92, the san mateo bridge. there is a stall just pass the toll plaza and the right hand lane. the tow truck is there with that. the good is is it is not backing up the ride because traffic is so light at the scene. you could see the total of repositioning itself to get in front of it to perhaps to let out. even with the right lane obstructed by the tow truck it has not done to slow the ride. it is it's 11 minutes. looking at the bay bridge where for the short time we saw a little bit of a back up and left st. lane. meeting lights have not been activated and it is likely we will make it through the morning without them. the golden gate bridge 1 01 southbound has a light traffic and we are problem free here. updating your ride as we look of the traffic maps still no real slowing for interstate 80 in the westbound direction. 680 look great of the san ramon valley. west 580 was problem free from the all to my past andy saw out thousands of freeways with goo all to my y freeways look good. >> it was all christmas the yesterday and today is a traffic at 8. this is the moral of this morning about the defiles mort north of louisville ky. you can see snow is starting to blanket the city. it's expected to keep going all day. the national weather service says people here to get up to 8 in. of snow and sleet all during the day. rain and fog made a dreary christmas day in some places. it was all messy weather though check out the rebels fighting near jackson mississippi. even as the thick white clouds rushing by this time let lapse video. forecasters expected to be drier here today and tomorrow and for the grain could pop up again friday. a southern california-based company has successfully tested a reusable rocket it helps to make it cheaper to go into space. space acts released a video showing the test of its grasshopper rocket. during the 297 flight grasshopper blasted 131 ft. into the air. the 10 stories tall cylinder hovered momentarily and then landed safely. earlier this year, a space x rackets and the capsule full of cargo zipping through toward the international space station and a first of its kind delivery for nasa. the rocket failed on the second mission to be put a commercial satellite into effect a correct orbit. china opened the world long as high-speed rail line. there was nearly 1,500 mi. from the country's capital to the north and southern china. the line officially opened early this morning. trains on a high-speed line will initially run a one- handed hundred 86 mi. per hour with a total travel time of about eight hours. before the fans is that between two cities by train was more than 20 hours. the chinese government plans to build a grid of high-speed railways with four east west lines and for north-south lines by 2020. after our show dr. phil at 10:00 a.m.. we will be right back. >> despite a summer slump at the box office 2012 is expected to mark the industry's highest year on record. it forecast hold through up out the end of the year the industry was the up nearly $11 billion in ticket sales. films including the avengers, the hundred games, and the twilight saba breaking dawn help keep revenue afloat. clinton andclinton tarantino die unchain and a musical light as a route which opened yesterday are expected to help 2012 and not a high note. does the customs and is expecting it again and we did it that confirmed it. 9656 right now yesterday was rainy and ugly, today not so much. we have breezy wet rather but said thursday the sun comes back and we have left over showers lingering into the weekend. sunday looks to be a little clearer and the work week i can't cut the workweek we have new year's next week. nationwide weather, there are it storms walloping the various areas. it is very busy at s f of dropping off luggage in giving hugs. i just these, sorry about that. little rock arkansas is against the honor national map has a eight storm across the nation. we will be right back.
MSNBC
Dec 26, 2012 11:00am PST
wealthy. no 48 notice on house votes. the potus on his way to d.c. to address fiscal cliff for the middle class with six days left to act. gop still mia. joining me now from hawaii, kristin welker. was the president expected? >> we did expect that given there was no deal on the fiscal cliff that he would have to return early from his hawaiian vacation. he will be flying out late or this evening. the first lady and the first daughters continuing his hawaiian vacation. he will find himself in a similar situation. the negotiations are largely deadlocked. just to give you a sense of how we got to where we are, if you go back to last week, it seemed like the house and speaker were getting close to getting a big deal that would have included tax reform and deficit reduction. that fell apart. house speaker john boehner tried to get his own bill through the house. he realized he didn't have enough votes for that. that fell apart as well. the ball is in the senate's court. according to an aide, senate majority leader harry read will not bring a bill to the floor unless he believes he will not have the support to get it passed or at least not to block it. that is the strategy right now. president obama will be working with what ma jority leader reid trying to get
ABC
Dec 26, 2012 6:30am EST
d.c. tomorrow to work on the fiscal cliff deal before the year ends. house and senate members are expected to reconvene. without an agreement, automatic tax increases for everyone and deep spending cuts will be triggered by the new year. the main dispute continues to be over taxes. >>> if you want to play the slots at 2:00 in the morning, starting tomorrow you can. maryland live casino is set to kick off its first 24-hour gaming day. once the casino opens at 8:00 in the morning, it will be open around the clock. maryland live is also prepared to immediately begin making the modifications required to add table games to the floor as soon as the regulation office makes it official. >>> a new 1200-seat auditorium is set to open in ocean city in 2014. it's going to be located at the ronald e. powell convention center. construction is set to begin in the fall on the $14 million project. >>> well, some netflix customers not too happy. they wanted to curl up on the couch and watch a movie on christmas eve. they were just out of luck. the streaming service for video was out for a good chun
ABC
Dec 26, 2012 5:00am EST
arrive back in washington d.c. the president is returning to the white house to work on a fiscal cliff deal before the end of the year. house and senate members are expected to reconvene tomorrow without an agreement automatic tax increases increases for everyone and deep spending cuts will be triggered starting january 1st. lawmakers maintain that the dispute continues to be over taxes. >>> time now for a check of that forecast. let's go back over to meteorologist mike massco because things could deteriorate as the day goes on. >> what's going on out there, mike? >> a whole lot of nothing right now, but things will change during the course of the morning hours. check it out, guys, 36 in the city limits, we go outside 31 in eldersburg, and joppa at the freezing mark. anything that moves in right now will fall in the form of some snow. winter weather advisory up towards carroll county, fredrick county, winter stormings out of western maryland. i drew in this line, this is actually what's hitting the ground. it's about two hours from the baltimore city metro area. so this will be moving in probably
ABC
Dec 26, 2012 6:00am EST
. tomorrow to work on a fiscal cliff deal before the year ends. house and senate members are expected to reconvene that day without an agreement automatic tax increases for everyone and deep spending cuts will be triggered in the new year. the main dispute continues to be over taxes. >>> some places, even here in maryland, got an unexpected white christmas. >> yeah. but certain places that never see snow got a a real taste of it. we're going to tell you how despite traffic tieups like this people were making the best of it. >>> and chips, soda, condoms, where high schoolers in one district when they come back from their break, they're going to see a lot more in the school developing machines. >>> get started now. your resolution, get a head start, we have you covered. >>> i'm mike massco. down to the south and west we go. it's starting to snow. we're going to see a burst of snow this morning, but a big changeover to rain. we'll have the forecast coming up. >>reporter: mike, no delays here on 695 just south of burniee highway. i'll tet you know what traffic looks like on 83 on "good morni
FOX News
Dec 26, 2012 1:00pm PST
. read the headlines and they say the president is giving up his vacation to negotiate a fiscal cliff deal but is something he said before leaving for hawaii leaving room for negotiations? what are we talking about? set it up. >> the president is heading back to washington to attempt a last ditch effort with speaker boehner to forge compromise to avert the fiscal cliff which will kick in in about six days if nothing's done. those are the headlines. everyone talking about cutting his vacation short. the question is there anything that can be done? they were at an impasse before christmas, the republicans and house imploded and it's a tight spot. i suspect if there's a deal, it will be unpalatable for everyone. >> there was a interchange before the talks broke down. we have the quotes. john boehner said to obama, quote, i put $800 billion in tax revenue on the table. what do i get for that? allegedly we understand president obama came back to him and said, you get nothing. i get that for free. you get nothing. >> there were a couple eye-opening quotes. a "wall street journal" story before christ
CNBC
Dec 26, 2012 4:00pm EST
still no deal to avoid going over the fiscal cliff. all signs are pointing to more talks for lawmakers to try to hash things out. should wall street bet on a fix before january the 1st or is that wishful thinking? >> let's find out. let's speak to our guests. welcome to all of you. brian, where do you make of where we're going right now? you're the one that remains sort of neutral. you're buying this market right now, aren't you? >> well, we're pretty much staying put. we're recommending that our clients have a substantial allocation to equities. i mean, bear in mind, it's been a pretty good year despite it being an election year, despite the fiscal cliff and ongoing problems in europe. the market has done better than it has usual done. what's changed? i think there will be continued political turmoil and slow growth but that's, particularly given valuations, may not be a bad year for equities as all. >> i'm going to add to that list having been a good year for the stock market. also had a lot of recovery in the housing market as well. do all these good things, all this progr
CNBC
Dec 26, 2012 3:00pm EST
about the fiscal cliff, economists talk about the fiscal cliff and politicians talk about the fiscal cliff. we're wondering whether mom and pops at home talk about the fiscal cliff. is a lack of a budget deal actually spooking shoppers out on main street? >> it is. walmart told us 75% of their customers have cite that had they are worried about the fiscal cliff. mandy, you and i were on last week talking about the luxury retailers and we called out saks saying business pre-holiday was particularly weak. what are the people in the stores telling me all week, saying that this is the worst pre-christmas they had seen in over a decade, and part of that was because their consumers are worried about the fiscal cliff, so note to the government. it does matter. >> yeah, but that's, as you say, part of it. laura, what else is going on? it just felt like we were going into a lackluster season here. what happened? >> i mean, there's been some discussion about weather trends as well, but whether or not we go over the fiscal cliff, consumers think next year we'll see higher taxes and lower entitlements. the only place in our space where we see a very significant fiscal cliff hit is aspirational customer, so the
FOX Business
Dec 26, 2012 1:00pm EST
down day for the marquette as washington prepares for another round of fiscal cliff dealing tomorrow. right now the dow down 33 points at 1,105. >>> the u.s. government may reportedly expand its mortgage refinancing program to include borrowers to include mortgages not backed by freddie mac and fannie mae. the "wall street journal" reporting that the refi program under consideration could consider underwater borrowers who owe more than they're worth. that is about 11 million homes. >>> toyota could overtake general motors and reclaim the title of the world's biggest carmaker for 2012. the japanese automaker estimate worldwide sales are up 22% this year from 2011 when a massive earthquake and tsunami and severe floods in thailand disrupted parts supplies and sales. that's the latest from fox business, giving you the power to profit >> 34 christmas tornados hit the south. liz art conditions in the midwest. wicked weather all wreaking havoc on travelers the day after christmas. more than 450 flights have been canceled, 500 delayed. not good news. is it going to improve? let's head to th
MSNBC
Dec 26, 2012 9:00am PST
>>> christmas is over and most people have the day off, but the politicians are still pretending to work. it's wednesday, december 26th, and this is "now." >>> i'm ari melber in for alex wagner, and joining me today, jonathan chait, joy reid, new york times political reporter nicolas and catherine crier. christmas break is already over for president obama. he's flying back to washington tonight and aides say he's ready for a deal. it's not clear whether this trip is a sign of compromises to come or another display of theater showing the president is willing to work even as his opponents skip town. meanwhile, though, americans are growing skeptical. in the last week alone, gallup found a 15-point drop in the number of americans who think congress will negotiate a deal on the fiscal cliff. that's not all, holiday spending also hit its lowest rate since the 2008 recession, which retailers are blaming on the uncertainty in washington. so where do we go from here? well, since the house failed to get a vote on the tax package last week, all eyes are on the senate. a temporary deal that would basically extend all the tax cuts for those making under a quarter million. the deal would also rescue long-term unemployment benefits and instead of addressing those automatic spending cuts we've all heard about that are set for january 1st, this temporary deal would delay them for another six months. few are optimistic this new plan, if we do go over the clifr, would work out. so what would half if we go over the cliff? the payroll tax holiday will expire on new year's day. that means most people will start paying more taxes in each paycheck. another 21 million americans would lose federal emergency unemployment benefits and those, let's remember, are people struggling the most right now. across the entire economy going over the cliff could slow the current growth rate of 3.1% and risk sparking another recession. joining us now to break it down from washington is cnbc's john harwood. thanks for being here. >> hey, ari. >> remind us where we were before plan b, how far apart were the last comprehensive offers between the president and negotiators? >> a few hundred billion dollars, which is a lot of money, sounds like a lot of money, but in the context of a ten-year budget deal when you have some very large programs that can be tweaked one way or another, is not that much. they were within shouting distance if the speaker could bring his caucus along to support the deal that he was promoting and getting close to striking with the president, but it's clear from the failure of plan b he could not bring them along for that deal, and the real question now, ari, is whether or not the speaker is going to be willing to take to the house floor something that could pass with a preponderance of democratic votes and significant chunk of republicans. i think in the end whatever is done, whether it happens before january 1st or after january 1st, that will be required to get it done, but we're not there yet. >> when you say get it done, you mean short of the majority of the republican caucus then? >> yes, this whole majority of the majority formula, which republicans have followed since denny haster was speaker, is not very well suited to this particular circumstance, and it's not well suited to democratic governance when you have divided government and have a chunk of the republican caucus which simply will not align the power that they have with the policy goals that they have. and it's a matter of when they figure that out and when the leadership decides to act upon that knowledge, but we haven't gotten there. >> right, well, when they figure it out is a key question, because days can turn into years in washington. i want to pick up on something you were pointing out the night of the plan b non-vote where you likened the troubles republicans are having now to other pieces in history. you wrote the political parties with losing hands don't change until they've absorbed lots of punishment, see dems 1968 to 1988, a long stretch, gop not done yet. i thought that was such an interesting point you made that night, because for a lot of people watching, it is hard to understand why a combination of tax cuts for most of the country and spending cuts and according to the last offer a type of social security benefit cut is not good enough for a republican party that just got walloped in the election. can you expound on your theory there? >> first, let me just talk about democrats. you're too young to remember this, ari, but there was a period of time when people were wondering -- >> i dyed my hair, john. >> people were wondering when democrats could ever win a presidential election again, that's because they were on the wrong side of main street america, on some cultural change happening in the country. they were on the wrong side of issues like the death penalty, on issues like the use of force in foreign affairs, and it wasn't until they'd gotten whacked, george mcgovern lost overwhelmingly, mike ducacas was beaten pretty soundly. after all those things happened, the democratic party through bill clinton and others like him trying to change it, made the party more acceptable to the american people. republicans have not gotten there yet. it was a party as we saw in the election, a declining -- white share of the vote is the declining share of the electorate. their share is going up, but not enough to compensate. >> right. >> right now the sort of primal scream you hear for spending cuts isn't consummate with the american people. president obama just ran on a program of resisting some of the fundamental ways in which the republicans wanted to change medicare and raise taxes on people over $250,000. he won the election and people from the very red districts elected in the house simply have not adapted to that reality. >> let me go to jonathan chait and the primal scream and the election president obama won, but you wouldn't know this in washington. doesn't it feel sometimes like one side experienced maybe a different election? >> they did. for the house republicans, they don't have to worry about public opinion. the house republicans got fewer votes than house democrats, but the house republicans won anyway because the districts are drawn in such a way the vast majority of republicans are insulated from public opinion. this conversation we're having of what do the republicans have to do to win back middle america, that's not relevant to them. the only thing they have to worry about is a tea party challenger. that's the only way these guys are going to lose. that's point number one. point number two, no evidence the republican party really wants to cut the main entitlement programs like social security and medicare. the ryan -- >> wait, that's an important point. despite having talked a lot about it and it being the core of the famous ryan plan, you're saying what? >> all the domestic cuts over the first ten years came out of programs for the poor. they just whacked the heck out of programs for the poor. food stamps, children's health care, medicaid, and obama said, no, if we're going to cut spending, we're going to protect the most vul nebl. protecting the most vulnerable takes it away and all that's left is cutting taxes. if the goal is to reduce the deficit, their goal of cutting taxes is not relevant to that goal so there's no overlap of potential agreement here. that's why there's no deal. >> let's take a listen to a very conservative retiring senator said, soon to be former senator joe lieberman, who is respected and seen as a deal maker. what we need right now is a deal. let's take a listen to something he just said. >> if we allow that to happen, it will be the most colossal, consequential act of congressional irresponsibility in a long time, maybe ever in american history. >> joy, i think what he's saying there and going over the cliff is not that this would be the worst thing congress has done on an objective scale, but the notion of doing something so bad for no reason is pretty frustrating, isn't it? >> i disagree with his characterization it would be the most irresponsible thing. i think messing around with not raising the debt ceiling and risking the default on the american debt was probably the most irresponsible thing we've seen this congress do, but the thing we need to remember, this is the same congress that did that, the same congress that put the gun to the head of the american economy over raising the debt limit, which means paying bills for things we've already done. knowing this is the same group and we haven't entered the 113th congress yet, it's not surprising they are willing to do this with the fiscal cliff. it's clear also they don't care about deficits, because the two things they can't agree is rescind all the spending cuts in defense, in the sequester, which, of course, would raise the deficit if they did that, and they can't agree to any tax increases at all, even though tax increases would reduce the deficit. >> catherine, isn't it their deficit in large part deficit? >> of course, but they have political amnesia. ideology is the science of idiots. here's one of these moments where when you live inside the box and refuse to look at empirical evidence, refuse to understand history to show us how economies work, how tax cuts or increases affect populations, then they are going to follow this line of idiocy over their own, i think, political cliff. and the partisanship is going to wreak tremendous havoc on the republican party in the upcoming elections. >> we have limited time. i want to go back to john harwood. is there a time here, john, when we're going to see the markets start to react or are we expecting most traders to wait until after the first to make big decisions? >> i think that's when they reacted. if we go over the cliff, even for a couple of days, you're going to see a reaction. i think at the end of the day you will see action if we go over the cliff for a couple of days, because i don't agree with jonathan that they are immune to public opinion. it is going to take a while for it to kick in. a lot of the members of the house want to become senators one day and republicans who are senators now understand that they are operating on a different political terrain and just as mitch mcconnell brokered a deal finally to resolve that hammer against your head torture that republicans were suffering along with the country during the fiscal cliff deal in 2011, that same thing is going to happen if we go over the cliff. republicans don't want to sustain anymore damage to their brand. they've been under water in our nbc/wall street journal poll six straight years and pay a price for that. >> john harwood, thank you for your reporting from washington. >>> after the break, there have been dozens of gun-related deaths since the sandy hook massacre and the nra is still doubling down on its plan to add more guns to schools. >> if it's crazy to call for putting police and armed security in our school to protect our children, then call me crazy. >> that's the wrong debate to have if you want to talk about protecting our children. >> well, this time the nra's remarks could actually be a good thing for more gun regulation. we'll explain why next on "now." 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[ male announcer ] get a 4 week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again. >>> in upstate new york, police are investigating the murder of two firefighters on christmas eve. investigators say the alleged gunman, william spengler, was found dead armed with a bushmaster rifle, which was illegal for him to have after a conviction for killing his grandmother. while some shootings are drawing more attention after the mass murderer in newtown, these kind of killings are certainly not rare. in the first week following sandy hook elementary, there were 100 deadly shootings across the united states, as "the huffington post" reported and the total number of shooting deaths runs higher. every week 600 people die from gun violence according to statistics from the brady campaign. will the new concern about sandy hook draw new attention to this old and enduring problem? progress is the way we talk about this debate. here's new york mayor cory booker on sunday. >> what frustrates me about this debate is it's a false debate, this is a false debate. this is a convenient tip to try to split our country more. most agree to stop the carnage going on in cities all across america. >> booker's premise is there is a consensus on gun regulations but the nra has artificially frozen that debate. other reformers say for a real breakthrough, supporters of gun regulation need a clear political enemy to organize against. nick confessore, i'm going to you, nra has money and members and we talked a lot in the past days since this shooting about their role in the political debate. is it also possible, though, what's happened is a one-sided debate about to become a two-sided debate because the president of the united states says this is going to be a priority in his state of the union? >> certainly a priority if the president wants to advance it. he has the biggest bully pulpit in the country. the president can convince half the country or more that he's right, but to stop anything from happening, the nra does not have to convince half the country. it has to mobilize its members in key districts and it's not artificially freezing anything, it's politically freezing something by mobilizing your people who they have who are single-issue voters who care a lot about this and agree with their executives and kind of officers about how -- about what is sensible and wrong in stopping gun violence. >> one argument is that mobilization, though, to your point, is very asimilymmetric. research in this area shows that you have right up in the shooting you have a spike of discussions of gun control. this was true after the assassination attempt of congresswoman giffords and after aurora, then in the following weeks, the discussion of the policy fades. and one of the political scientists involved in this calls it, of course, the issue attention cycle, and i want to read one of these remarks for you to think about. he talks about the media's intense interest in and subsequent boredom with a public policy problem is known as an issue-attention cycle. a dramatic issue prompts news and inevitable decline in coverage. policy issues sustain received attention only when the parties are engaged in loud public conflict. >> the nra knows this. giffords, aurora, here, they go quiet for the first 24, 48 hours, and very subtly they begin to make small pronouncements and then they begin to work on their lobbying effort avoiding t inin ining th debate. they let our shortened attention span move somewhere else and are effective in maintaining the legislation they want. >> the other thing is they understand the vast majority of shootings are not as dramatic as what happened in sandy hook, so even though there's a steady accumulation of deaths that are happening every day and droning on, they know we in the media won't give them that same kind of attention so it will go down. my question is whether or not by the time we get to the state of the union in late january whether we will be at this height and level of attention as horrific as this issue is, other things will happen in between. >> that doubles back with nick's point, right, which is what does the nra stand for and do they stand for their agenda in front of only their most die-hard adherence or does the public learn about it? let's look just briefly on what is on the nra's basic score card agenda. this is how they assess members, oppose closing the so-called terror gap. they oppose closing the gun show loophole. they support an amendment that makes it harder to trace guns specifically used in crimes that would be not law-abiding gun use. they would support amendments to carry guns on amtrak, national parks and bars and what i would call the notorious stand your ground legislation. do you think that agenda, if it has more exposure in this debate, i mean if the president read off those things in the state of the union, do you think that would drive a wedge between the average gun owner and the nra's national agenda? >> it would start a debate. look, it's not the job of reporters to carry one side of an argument. if the nra is making an argument and no one is making one against them, it has a consequence for the debate. what the gun control side has lacked for a long time is a powerful grassroots group that actually has the muscle and the money to force the conversation, to force leaders and lawmakers and presidents to talk about it. so you don't have a solution or problems -- >> i think we're abdicating responsibility there. we talk about, you know, far right and left and act like we're having a balanced debate. it's rare we go through statistics and teach the substance of any daebebate and either get rid of all guns or let everybody have them as a point of liberty. >> our coverage in "the times," we've had a number of stories after the shooting examining various types of questions in a broad way that arise out of the shooting, looking at some of the policy problems, and that's going to run its course and we're going to do that, but after that point, it's not our job to be advocating for one side. >> part of what you're saying or what any objective reporter is going to say, they can't create the events, so once the event fades, the only other event is political dispute, right? then jonathan, do you think the president will be able to do something beyond the state of the union address? the reason i go back to that, it is rare for presidents to say two months out, here's something that's going to be in my state of the union, watch out for it. he's raising the bar on himself, which is not uncommon in washington. >> the question is can he get a law passed, i say no. the same answer as the previous segment, republicans aren't going to pass anything. what he can do is make this the democratic position on guns, make it part of their agenda so when the democrats have a chance to exercise leverage of power, which is how anything gets done in washington anywhere in the current era when the democrats have the house and senate and can lock those pieces in, they'll use their power to pass a law. >> we got to run, but i'll get you back in. >>> next up, we're going to look at the potential nomination of former senator chuck hagel. will he go the way of ambassador susan rice, who was discussed, attacked, and, of course, never even nominated? we're going to tackle that. >>> plus, bold sartorial choices, teleprompter troubles and a whole lot of doritos. that scratches the surface at this table on "now." we have a special romp through the highlights of 2012. you're not going to want to miss it. [ woman ] ring. ring. progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. >>> have you heard about the latest controversial name floated for the president's cabinet? chuck hagel is getting hammered for statements about guy and jewish statements. is he too liberal on foreign policy for republicans or just too close to obama? well, we're going to tell you why the hagel fight matters, even if he becomes another causality of washington's angry nomination process. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ...could end with adding a close friend. the lexus december to remember sales event is on. this is the pursuit of perfection. >>> i think all 100 senators ought to be on the line on this. what do you believe? what are you willing to support? what do you think? why are you elected, because you wanted a safe job? go sell shoes. this is a tough business. but is it any tougher, us having to take a tough vote, express ourselves, and have the courage to step up than what we're asking our young men and women to do? i don't think so. >> by opposing george w. bush's iraq surge in 2007, chuck hagel endeared himself to anti-war democrats but lost a lot of republican support. now while president obama's next potential secretary of defense is being hailed by some precisely because his views do fall outside the mainstream, many others are saying that chuck hagel's views on israel and iran and his previous comments on gay rights are completely out of touch. so while the likelihood of john kerry receiving app unanimous confirmation vote in the senator, the decision to float hagel for the pentagon is having the opposite effect. >> i think this will be a very tough confirmation process. >> a lot of republicans are asking hard questions and i don't think he's going to get many republican votes. i think it would be a challenging nomination. >> in another distress signal for the white house, the former vietnam vet and nebraska senator was unable to secure the backing of the number three democrat in the senate. >> that's his choice. i think once he makes it, his record will be studied carefully, but until that point, i think we're not going to know what's going to happen. >> can you support him? >> i'd have to study his record. i'm not going to comment until the president makes a nomination. >> wow. schumer's was the sign of this nomination's downward trajectory. after watching on tv, mike allen wrote he received an immediate e-mail from an astute republican official saying, pass the jam, he's toast. so is it game over for hagel? the white house certainly seemed to be backtracking this weekend. a senior official told the national journal on sunday it was fair to say obama's considering candidates other than hagel for defense secretary, so will republicans get their way again? as democrats are left scratching their heads about the possibility of the president getting rolled on a second nomination, the question for them is if hagel is really toast, is obama milk toast? i'm going right to joy reid, you don't like milk toast leadership, i don't know where you stand on toast. >> it's carbohydrate-laden, so i'm against it. >> it's the holidays. >> that's true. >> people are royally upset. hagel said objectionable things, no one, not even his people, are defending that. on the other hand, as i said, he would be, by the standards of pentagon leadership, which is its own metric, he would be a more liberal, more reformist voice for a more multilateral and constrained pentagon policy, yet he's running into all this opposition. >> exactly, and if you look at people opposing him, these are neocons because he stood up to cheney when cheney had the vader hat on. he was strong enough to stand up to his party on the iraq war. for the love of god, last time i checked, president obama is the president of the united states. we don't have to personally love each and every one of them. it's his choice. let us stop having neoconservatives in the senate choose the entire obama cabinet. >> in theory, i think you're right. in practice -- >> that means he doesn't agree with you. >> i think you make good points. the truth is the person who's going to set the policy and agenda is barack obama. he's very hands on. it's really a symbolic fight. the question is do you need a symbolic fight when you can get somebody else to do what you want just as well without going through combat, intense combat, over some of these legislative issues, especially the budget stuff right away. it seems to me -- >> what that sounds like, i want to get joy in the panel, that sounds what you hear from washington democrats, every time they are losing is a symbolic fight. you know who doesn't think it's a symbolic fight, the republicans don't seem to think this is a symbolic fight. the republicans don't think this is a waste of, quote, political capital, joy, the republicans seem to think it is worth going hard at the war cabinet of this war president. >> the republicans aren't good at distinguishing between necessary and unnecessary fights. >> they won a fight over susan rice. they have gone from advise and consent to don't even think about it. before anyone is nominated, don't even bring that person over here. if barack obama backs down two senate republicans on this, it's going to set a stage for the beginning of his second term that the senate republicans, who they lost this election, are controlling who is in his cabinet. >> what is so hysterical is john kerry, go back to 2004, let's talk about the political arguments from the right about this man's military experience, about who he was, go back to his vietnam days, the swift vote, now he's god's gift. well, he's creating a vacuum with a very senior senate position. he's creating a race in massachusetts, so now they love this man, and yet chuck hagel, independent, thoughtful, conservative, two purple hearts, is not good enough because politically it's not as -- as effective. >> not to beat up on jonathan chait, because i wouldn't do that -- >> go ahead, i'm right here. >> there's a veritable brady bunch of nominees and almost-nominees. we're going to put up the brady bunch on the screen, elizabeth warren, highly qualified, tom daschle, susan rice we just discussed, peter diamond, a nobel economist who couldn't get a vote. let's be clear, we're not talking about people voting down nominees. that is in the constitution and their right. what we're talking about is the context of preventing votes on these people and thus hamstringing the newly reelected president, nick. >> once again, it's asymmetrical, it cost the senate republicans nothing to do this. it costs obama something to fight it, to push through, to have the fight, and it's worth it to them, not only on a symbolic level, but a substantiative level of defining who is acceptable for one of these cabinet posts. >> wouldn't it have been better, nick, for president obama on susan rice to let the republicans have the spectacle of pushing around this african-american woman and ordering her to explain she didn't stop an attack on benghazi? >> they obviously decided it wasn't. i'm not sure why. >> on the politics, your former colleague wrote about this, if white house operatives really believe because hagel is a republican former senator and the gop already got its scalp, hawks would look the other way while the administration nominated a man likely to oppose against iran? those white house operatives should seek a different line of work. joy reid? >> the neocons won't stop. they've been wrong on every foreign policy question of my lifetime and still want to be in charge. >> to think of another liberal-type reformer you have to go to harold brown under carter and was a multilateralist, looked to use the pentagon as a place to negotiate arms reduction treaties. it was a different type of defense strategy, it was, by the way, controversial at the time. but the point to hagel, joy, is we're talking about someone who objectionable comments aside or not, someone who would be a change agent, and why won't the president fight for that? >> his only objectionable comment was his comment on the gay community. >> how long ago? >> bill clinton signed, you know -- >> clinton, who progressives like. >> it was a very different time in gay rights. >> and the issue on israel, what did he say, he's not a senator from israel? have we gotten to the point you can't say that? he's a republican, we're not going to agree with everything he says. >> he was against sanctions in iran. there's a real difference in iran policy, but look again, it's a symbolic fight between neoconservatives and people who hate neoconservatives and they are itching to fight each other and he's become the fight. obama made the decision, obama's going to make the decision. people are getting too worked up about the person who really isn't going to make the decision. >> jonathan gets the last word on this. >>> we're moving from iranian sapgss and the carter administration to something a bit more fun, believe it or not. coming up, angry teddy bear, steady eddie, those are all coined nicknames in 2012 for the presidential candidates. we'll look back at the rest of the best on "now." mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. [ buzzing ] bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. >>> and next up after the break, it was a good year for "now" with alex wagner and there to help it along were the clown car, bull pen, and panel. i want you to stick around. we're going to look back at some of "now's" greatest moments of 2012 up next. >>> angry attack muffins technicaling holiday sweaters, and, of course, how to get your wag on. while alex continues her vacation on pluto, we want to give you a look back right now at a year on "now." >> can mitt romney self deport himself into the oval office? >> carl rove thinks he's conspireing with the easter bunny. >> is the republican party fired up and ready to go? >> wednesday, june 14th. wednesday, december 7th. >> and this is "now." >> this year the grand old party gifted us the grand old clown car. time to bring in steady eddie, aka rick santorum. seems to be in the throws of a tantorum. i say hot garbage. mitt romney, the kaiser of the republican party. message to newt gingrich, no hold's bar. that was my addendum. the angry teddy bear, newt gingrich. the angry teddy bear, the angry attack muffin. i noticed you liked to call him that as well. >> i stole that from you. >> you are the creator of the angry teddy bear comparison with newt gingrich. >> for that, i expect to be charging more higher rates in the coming months. >> as the primaries produce new names, so did our show. >> the effortlessly elegant jonathan capehart. eternally buzzy ben smith. ari melber. steve. queen bee and managing editor of the sunday morning himself. favorite import from the uk, maggie haberman. michael steele, notorious as we call you here. thank you for your time. indubable. chris solizza. >> i assume they are compliments. >> they are $5 compliments. >> emmy darling. emmy darling. the man with the golden throat. cnbc guru john harwood. our favorite wonk of them all. president obama's money bunny bill burton. >> money bunny? >> given the hop to it attitude. current editor of "now." >> we want to make you the official cultural ambassador of the program now. >> okay! >> we can always count on a little help from our friends. >> always handsome martin bashir. >> you've put me between two of the most attractive people on this network, jonathan capehart. >> i got a title, did you know that? >> this is a legendary moment. >> this is hot. >> this is hot. >> in the days before my time, less known your time -- >> we're just babies around you. >> that's why i come on, to get my wag on. i get my wag on. >> stop right now. >> now! >> thank you for getting me wag on. >> anybody watching this show, by the way, doesn't have direct plans to vote is an idiot. go vote, vote. don't watch this until you've voted. >> the man that gets the last word every night on msnbc and here too, i bet. >> it's in my deal, last word. >> when lawrence o'donnell is here we go metta. >> nobody talks about catholic men being able to get viagra. >> exactly. >> hello? >> what is viagra? >> this conversation needs to be dialled way back. >> stage of capitol hill, celebrity doppelganger. >> here now chris hayes. >> just spit on you. nbd. >> it wasn't always easy. >> before we go, we will leave our readers with -- readers? watchers. >> pancake crisis or political fearmongering? i can't read the teleprompter today. we'll discuss the lead up to november 6th. in the lead up to november 6th, period. there is more chance you will get hit by lightning, i think, on a plane -- actually, that would be increasing your chances. but he does have his own stash of several millions of gallons of oil. i'm kidding, private stash. president's private stash of oil, don't listen to me. >> peg gi newman today in the gop? wall street journal. >> i ate a hot cup of coffee. so hot. i can't even tell you. >> hammering nails into a board. to repeat, this is an actual event in the romney olympics. >> get set, go! ♪ >> you go, boss. you get a platinum hammer. >> congratulations. big win. >> pop quiz, hot shots. the winning team will get a washer and dryer set and possibly a car ride home. all right! buzz feed sent us 100 boxes of peeps. we don't know where the beef is, but we know where the marshmallow peeps are. >> she's congratulating ben with 100 bags of doritos. >> thank you so much. nothing could be more appropriate. >> we've got an attitude. >> there's a metaphor between my frequently worn yankee cap and your infrequently worn nats hat. >> you could say the president gave john boehner a political mulligan. how is that for golf talk, america? >> there we go. >> who says i haven't been on the links? i wish i had my eye black, but i do have -- i should have put this on before the break. i can't do it. it goes on my wrist. >> the dress code was open for interpretation. >> ari melber charting new sartorial territory. that is a fetching color for you, chairman. >> thank you, thank you, ho, ho hey! >> kurt andersen, would you buy a too legit to mitt shirt? >> i have several. >> only capitol hill correspondent who may or may not be wearing boat shoes at this moment. >> how are you, my friend? >> luke russert joins the panel next on "now." look at those boat shoes. >> i'm just a brother looking for a cigar, book, and a fireplace. >> if you start running your hands through the mashed potatoes at the dinner table, everyone else does. >> the man who does not believe in unicorns, what do you think of the attitude regarding minorities in this country? >> nothing. >> terrific point. >> thank you, governor. >> occasionally you do. >> 8.3% unemployment, bragging ability -- >> governor pataki, you're on your talking points. this governor or this governor? >> former lieutenant governor, i'm sitting here -- >> expression in my profession called plop sweat. >> i would like to have a pro form of the session of the show and come in every three days and write something down. >> i'm about to get into my coin collecting story. when i used to collect coins -- >> this is ratings gold. >> this is called in budget circles and more boring -- >> budget circles. >> can you feel your ratings going up, alex? can you feel the people tuning in? >> two other factors before nicole rips your head off. >> we have to go to break. >> awesome. that means i don't get killed by nicole. >> coming up, nicole will tear off john's head. >> ouch! >> call me doolittle. >> do we have that photo of the governor's dog maggie? >> oh, that's a dog. >> the composition of this panel proves there's actually more men, okay. >> you look swell all the time. >> you're invited back next week. >> i knew i'd get back on the show somehow. >> the first thing is the last and you, good woman, have it. >> there were no ench la das, i know. >> this show is a metaphor call enchilada. this is how the show goes sometimes. ♪ >>> now if you have a favorite "now" you didn't get to, send it into us on twitter. i want to go around the table, though, first. catherine, did we miss anything there? >> no, and you did have one of my favorites, because i was here, that was the peeps, the easter peeps, the rendition was quite extraordinary. i thought where else might i have seen that but here? >> details. >> i'm reflecting on the fact not having to show your legs or shoes is a great feature of the layout on the show. >> i want to know what was up with that sweater. what about that about? >> i asked to wear a sweater and received a very discouraging reply. now we know why. you ruined it for the rest of us. >> there was a back story, which is my girlfriend got me the holiday sweater, i was excited to wear it, i was told it's fine, then when i got here, they were like what are you wearing, which made me realize maybe it's fine was we're all joking around, you wouldn't really do that. >> but you did. >> you have your constitution dress, people have to look out for that. >> all i have to say is ho, ho hey. >> are you quoting michael steele? >> i'm quoting michael steele. >> we want everyone to tweet in on twitter or facebook. search for "now" on facebook.com. i want to say a big thank you to this special edition of "now," jonathan, joy, nicolas, and, of course catherine. that's it for "now." i'll be back tomorrow joined by steve gornacki, politico's ben white and senator jeff merkley who will detail his plan to fight filibuster. next is "andrea mitchell reports." luke russert is in for andrea. how are you doing? >> i'm doing good. nice to see a writer for "the nation" dress like that. >> i cleaned it up. >> great stuff, good to see you in the hosting chair. i'm luke russert in for andrea mitchell. >>> up next, deadline looms and house is staying out on the winter break. the movements and lack thereof in washington with senator kay bailey hutchison and congressman jerry nadler. plus what's next on gun control and all you can look forward to in the next 24. iti price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. 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[ male announcer ] join the millions of people who have already enrolled in the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. remember, all medicare supplement insurance plans help cover what medicare doesn't pay. and could save you thousands a year in out-of-pocket costs. call now to request your free decision guide. and learn more about the kinds of plans that will be here for you now -- and down the road. i have a lifetime of experience. so i know how important that is. o0 with a new project in mind, some how-to knowledge to give us an new years clutter is no match for someone with big ideas. edge, and more savings down every aisle. it only takes a few twists and turns for those bright ideas to make the new year even brighter. more saving. more doing. that's the power of the home depot. start fresh and save with hdx 20 gallon totes, a special buy at just $5.88 a piece. >>> right now on "andrea mitchell reports," six days till the new year, and there's no bipartisan deal to avert the fiscal cliff in sight. the president is cutting his vacation short, but the house is still in recess with no immediate plans to return. the ball is now in senate democrat's court and
CNN
Dec 26, 2012 6:00am PST
to try to forge a deal on the fiscal cliff, with just six days left to negotiate, a deal to avoid the catastrophic cliff, the president will leave hawaii tonight to try to work on a bargain between democrats and republicans. brianna keilar is traveling with the president in hawaii and joins us now. good morning, brianna. did the president cut his vacation short or was it planned all along? >> reporter: he did cut his vacation short from what was initially planned which was to go through the new year, so yes, he cut it short. i think we have a sense he might be heading back to d.c., carol, you'll recall when talks fell apart last week between house speaker john boehner and the president as the president departed for hawaii he talked to reporters in the briefing room and he said "see you next week" so i think we had a sense he would be coming back earlier than initially planned and it was just a matter of when, not if, and he'll be heading back tonight, that's local time so he'll be traveling overnight, it's quite a long flight, nine or ten hours and he'll be back in d.c. by thursday la
CNBC
Dec 26, 2012 1:00pm EST
obama cutting short his annual vacation in hawaii to deal with the fiscal cliff. no sight of congressional leaders. they're not in town. investors getting a little bit nervous. will congress get it together in time? no talks that we know of are imminent. it was by at least one measure, the weakest holiday retail sales growth since the financial crisis back in 2008, but could a post-christmas holiday sales bounce be around the corner? >>> and what a year it has been for tech. gadgets and gizmos. apple, facebook, microsoft all have big news. will 2013 be a lucky year for the sector? which tech titans might lead the new trends? simon hobbs is in at the new york stock exchange. >> good afternoon. when president obama arrives back in d.c., can he prevent america falling over the fiscal cliff? house republicans haven't yet called their members back to washington. our chief political correspondent, john harwood, is with us. john, this feels very much like it might be the calm before the storm in more way than one. >> it could be if we go over the cliff and the storm would be generat
KRON
Dec 26, 2012 4:00am PST
washington d.c. on thursday. the president is returning to the white house to work on a fiscal cliff deal before the europeans. house and senate members are expected to reconvene on thursday. without an agreement, automatic tax increases for everyone and deep spending cuts will be triggered in the new year. >> we will be right back. >> for the rest of today we are looking for showers. tomorrow there will be lots of sun shine. satellite and radar shows a there will be a big storm for the mountains. right now most of the showers are starting to decrease. futurecast 4 shows that some showers will be in the south bay but that will be scattered. by the late afternoon we may see sunshine as we start to clear out the skies. the sierra forecast shows a they have a winter storm advisor. they are expected to receive three to 6 in. of snow. this is great news for snow boarders and skiers. >> the highs for today will be in the mid '50s for oakland and the east bay. it will be 53 degrees for downtown san francisco. here is a look at your 7 day around the bay forecast. decreasing clouds for the afternoon and
FOX
Dec 26, 2012 4:30am PST
. >>> they are turning back to the fiscal cliff and getting a deal on the table. he will leave hawaii tonight. the first lady and the president visited to thank troops for their service. >> this is where i was born and so we come back for our holidays but one of our favorite things is coming to the base on christmas day and having a chance to meet you. >> when he returns he plans on working to avoid tax increases and cuts to come must particular programs and those will take affect in 6 days. >>> it was much -- weaker. it was just 7 / 10th and did scale back from 2. 5% but growth in holiday sales was greater than when it started. >> volunteers were closed to serving 5,000 christmas meals and glide is hoping to keep it going with a special day after christmas breakfast. meals will be served until 9:30 a.m. >> the agency will offer free rides on friday to celebrate its 100th year in service. they start at 5:00 a.m. on friday. >> yes, that's right, let's go to tara, she is filling in for sal castaneda. >> i noticed an extra smile. i think we'll see a lot of trouble in parking lots. you can see th
NBC
Dec 26, 2012 7:00am EST
his vacation in hawaii, heading back to washington that. will happen tonight to work on a fiscal cliff deal. don't wait for washington to reach a deal by the end of the year. coming up, what you can do right now to minimize the impact on your own bottom line. >>> jessica simpson used the holiday to confirm she is pregnant once again. she tweetd a picture of her 7-month-old daughter maxwell with the words "big sis." >>> in mobile, alabama, for us this morning, jim cantore. good morning. >> reporter: good morning, savannah. storm prediction center said we had as many as 34 tornadoes yesterday. average for the month of december is 26. church behind me here heavily damaged, two sections of the roof have been torn off and dropped below. christmas morning, that church was full of people and parishioners attending christmas service. power poles have been taken down as well. the last thing people in mobile expected on christmas day was to be cleaning up after a tornado. >> oh, my god! look at that. >> reporter: this was the scene in downtown mobile, alabama, late tuesday afternoon, a tornado touched down
ABC
Dec 26, 2012 6:30pm EST
near that fiscal cliff, will there be a deal? also tonight, an abc news exclusive. barbara walters at the white house. asking michelle obama if she'll run for office next. and a personal question, too. >> how do you keep the fire going? >> hmm. that's a good question. >>> made in america. the great christmas challenge. >> i know, i know your show. >> she knew, and so did thousands of others. tonight, the big reveal. the videos you sent in, the made in america gifts you put under the tree. and the ones that didn't fit. >> merry christmas, david! >> how you're creating joy and jobs this christmas. >>> and caught on tape. the adorable pet dog stolen, about to be sold. you won't believe what happened next and what we witnessed today. >>> good evening on this wednesday night. and we hope you had a merry christmas. diane has a few more nights with her family, and what a night to stay indoors. across much of this country tonight, a massive winter storm and already, the ripple effect being felt coast to coast. the monster storm system stretching from indiana to maine, all the way to north
FOX News
Dec 26, 2012 3:00pm PST
>> kimberly: that won't stop the pledges. promises. i don't lick to make promises i can't keep. i don't want to have resolutions. >> andrea: that is your resolution. >> greg: do you have a one more thing? >> kimberly: i'm doing it right now. tonight go on the record. i'm on at 10:00. greg is on. promote him. guest i'm on -- >> greg: i'm on. >> kimberly: we are taking whoever is left in the building. >> greg: i have the flu. i am not going to do -- >> kimberly: see if greg shows up or not. if he's not scared. >> greg: that is it for us on "the five." thank you for watching. hope you had a merry christmas. see you tomorrow. ♪ ♪ >> doug: the violence in syria reaches fever pitch as assad deals with a major defection. this is "special report." ♪ ♪ >> doug: good evening. i'm doug mckelway in for bret baier. christmas did not bring peace to syria. death toll rises each day with the estimates as high as 4,000 lives lost. president bashar assad struggled to hold on to power, the regime is still dealing with a major defection by a top general. leland vittert has the developments. >> reporter: continues to use helicopter and fighter jets at will. rebels now have the momentum. the amateur video confirmed shows the rebels fighting for back of the pickup trucks and turned in to machine gun carriers and they tighten it on the base. the less equip rebels fighting for whatever fire power they can find or build. this is a school that has been taken over by the assad thugs explained this rebel. before launching a homemade rocket from nearby building. other videos from around the country show free syrian army fighters using the same crude weapon. however, turning citizens to seasonals with little or no training doesn't always work. they have many armor in the rebels stronghold. but the force appears to be waning as the rebels gape control. the latest blow to the regime came by way of the internet video. i have deflected claimed the former head of the syrian police. the army transformed to gangs and killing. committing massacre against the unarmed people two went out and demand liberty. the latest video showing eight children and a dozen more adults amountedly killed by the regime showing russia unyielding support of assad appears to be cracking ever so slightly to bring renewed talks of some deal to move assad out. the downward psychoto war is grave concern to israeli leaders who fear most the regime chemical weapons falling in the hands of hezbollah or jihadist. today, reliable london-based newspaper reported the israeli prime minister flew to jordan for a secret meeting with the king to discuss options of how to deal with the chemical weapons. doug? >> doug: leland vittert in jerusalem. thank you. deadly christmas day storms that dumped snow on the nation's midsection and unleashed tornadoes in the south making the move to the northeast to mean flight dela delays and flight conditions for post holiday travelers. mike tobin is following the story today. >> the death toll of wicked holiday weather passed six from travelers braving the wind and ice. nowhere hit harder than indiana where the storm dumped 18 inches of snow. >> the storm stretches to engler and generated blizzard warning for the southern state. all the people who made it to a destination for christmas faced the driving snow and slick roads for the return. >> my boss expect mess to be at work but i doubt that i will. i'm not driving my car. >> major hub of chicago and atlanta dodged the worst of the storm. however towns like indianapolis, louisville and boston logan airport endured many cancellation and delays, if they were not shut down altogether. >> i heard it is accumulating in raleigh this morning. we are a little nervous. >> this is the same storm that whipped up 34 deadly tornadoes one caught on home video in alabama. >> look at that tornado. >> power transformers could be seen exploding. nearly 300,000 people are left without power. 100,000 of them in the little rock area alone. tornadic fury and punishing straight line winds tore residents away from christmas celebrations to seek shelter. >> i pray to god as loud as i could. i was just praying for my safety. >> left in the wake, traffic disrupted by town trees, structures and homes destroyed, people displayed one day after christmas. >> there were more than 1300 flight cancellations nationwide. 600 car wrecks in minnesota alone. governor scott walker of wisconsin declared a state of emergency. the national guard was activated in indiana and arkansas. meanwhile, the storm is still churning for the eastern seaboard. doug? >> doug: mike tobin in chicago. thank you. u.s. shoppers spent cautiously this holiday season. retailers saw the worst year over year performance since 2008. markets were down slightly. the dow dropped 24-1/2. the s&p 500 slipped 7. nasdaq fell 22.5. president obama has been in hawaii for some holiday r&r. the republican lawmakers are likely hoping that means he is rested and ready make a deal on the fiscal cliff. however, chief white house correspondent ed henry tells us that washington may have to set with a backup plan to the backup plan. >> christmas tradition for president obama. he and first lady michelle obama saying thanks at the marine corps base hawaii. >> so many of you make sacrifices day in and day out on behalf of the freedom and behalf of the security. >> now the president is giving up some vacation time rushing back to washington aboard air force one late tonight to deal with the looming fiscal cliff. after that red eye, the president will no doubt need coffee. starbucks decided to get political in the washington, d.c., shops, by having employees write come together on cups. ceo howard schultz writing in open letter, "my hope is the simple message will serve as holiday reminder from starbuck of the spirit that bridgeed differences and we have the power to come together and make a difference in every season of the year." the president and speaker john boehner have not spoken in nearly a week. when the house republicans convene conference call today, all they were told is lawmakers will get 48 hours' notice if and when they need to come back to session. the talks first stall over the preferred option of plan "a." moving from the income level of $250,000 to $400,000. the focus shifted to plan "b," boehner fallback and would have raised tax on those making $1 million but failed when could not get republican votes. >> all eyes turn to the senate that could be key to a deal on plan "c." scaled-back bill that the president says will focus on unemployment benefits and reverting to the 250,000 level on taxes. >> i asked leaders of congress to work toward a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans. lays the groundwork for further work on growth and deficit reduction. >> that means taxes go up for some now and spending cut on medicare and other programs are kicked to another date. >> what the president offered so far won't do anything to solve the spending problem and begin to address the crippling debt. >> gallup in early december saying 58% of the public thought we'd avert the fiscal cliff. new poll shows it's dipped to 50% thinking that. the public thinks we are headed for a big problem. >> doug: breaking news from treasury secretary geithner it go about the debt ceiling. are we about to go to default? >> yes and no. secretary gite it go says today that we will hit debt ceiling on december 31, new year's eve. it only buys a couple of months. it proves even if we get through the fiscal cliff situation we are headed for a major showdown next year. >> doug: ed henry traveling with the president in honolulu. what happens if we go over the fiscal cliff? molly henneberg explains it means more money of the of your wallet. >> taxes are going up on everyone immediately. if washington can't come to a deal on the fiscal cliff. >> you have less money in a difficult economy with little clarity. >> the economy will go down sharply. >> look at the number from the tax policy center. this is the average tax hit the families take on top of what they pay on taxes. those make between $40,000 and $50,000 pay extra $1700. >> if you manage to make over $200,000, it will be a big jump up. you will need to send a check to uncle sam for $14,000 initial dollars. $500,000 to $1 million pays $34,000 more. they want $215,000 on top of what you pay in taxes. >> the wealth manager says the money you have left won't go as far as businesses also deal with their own tax hikes. >> you are going to see less money in your paycheck. >> the government has to bite the bullet with $1.2 trillion in spending cuts. more than half of that is to the defense budget. >> they say families may need austerity calculation before making big purchases. look at the money you have and the money you need in the future to decide if you need the next big picture. doug? >> doug: thank you, molly. residents of the webster new york neighborhood set ablaze christmas eve have been allowed to return back to their homes. they say exconflict william spangler set the fire as a trap to lure firefighters to their death before turning the gun on himself. four were struck with bull lels, two survived and are in stable condition. >>> somber christmas day in newtown, connecticut. volunteers took three-hour shift to ensure 26 candles stayed lit at candle light vigil. it was filled with snow covered teddy bears, flowers and toys. two tv news hosts have a little explaining to do on the topic of gun control. that's later in the grapevine. up next, is the federal government shirking duty when it comes to public input about regulation? can't leave the table till you finish your vegetables. [ clock ticking ] [ male announcer ] there's a better way... v8 v-fusion. vegetable nutrition they need, fruit taste they love. could've had a v8. or...trkids boxes! you can stay in and like something... or you can get out there and actually like something. the lexus december to remember sales event is on. this is the pursuit of perfection. the red cross was down here all the time. [ man ] they've given us a lot of heart. in times of need, they're there. ♪ [ kerry ] my dad was watching his house burn. he turned around, and all of a sudden, therwas this guy standing there from the red cross. at a point where i had just lost everything, the idea that there was someone there... that's an amazing thing. ♪ that's an amazing thing. i played a round of golf.id in the last five hours? then i read a book while teaching myself how to play guitar; ran ten miles while knitting myself a sweater; jumped out of a plane. finally, i became a ping pong master while recording my debut album. how you ask? with 5-hour energy. i get hours of energy now -- no crash later. wait to see the next five hours. is >> doug: state department officials are partially to blame at the benghazi consulate that left four miles per hours dead might get off easier than originally thought. "new york post" report that individuals remain on the state department payroll and will be back to work soon. they point to a statement saying all four are on administrative leave pending further action. did you know that you can weigh in on government regulations? that is news to you, you are not alope. correspondent shannon bream tells us the comment period for input is getting shorter and shorter. >> if you don't pay attention to it, this is a whole part of the government that is operating secret otherwise. >> when congress passes a law, something massive as the 2 2,409 page affordable care tract is the beginning. they are given authority to issue regulation to spell out how the law will be enforced but not before giving the public a chance to weigh in. in 1993, president clinton called executive order to call on agencies to provide minimum of 60 days for public input. three new proposed regulation for obamacare assigned 30 days and will get 24. with the comment period set to end in the week between christmas and new year's. one of the regulation runs more than 400 pages. regulatory experts say it creates nearly impossible task. fully vetting the proposal and submitting in-depth comment by the deadline. >> very few people are aware that the regulatory process allows for public to comment. because of that, a lot of the agencies work in secret. >> americans for limited government sent letters to the administration asking why it's flagrantly ignoring the appropriate comment period. expressing concern about the large number of new regulatory actions that are being undertaken by the administration since the november election. the department of health and human services tells us "governors, insurers an other partners encourage us to finance roles as soon as possible and we will continue to work with them as we imple innocent the law." under congressional review act they can overrule regulation but only after passing a resolution through both houses, which would then need the president's signature. doug? >> doug: shannon bream, thank you. we have more on the subject with the panel. a debate going on for decades. union and labor activists say it's good for economy. business owners disagree. peter doocy explains minimum wage is a hot topic. >> nearly 1 million people across america get raise on new yore's day. not reward for job well done but they live in step states raising the minimum wage next week with increases ranging from modest dime an hour in missouri to 35 cents an hour in rhode island. supporters say right now income guarantee is important since some unions are weakening. >> the increase in the minimum wage does give workers the kind of safety net that businesses themselves and some governments frankly are taking away little by little. >> some experts think that assessment is antiquated. >> union and advocacy groups don't realize is the battle is no longer with management. it's with technology. if you go in the local target or something like that, you check your own price, automatic price checker instead of people on the floor to help you out. we have been through a period where we have seen the impact of higher minimum wage. it forces businesses to cut back. >> federal minimum wage is $7.25. cities and states can set their own wages higher. like san francisco. which will raise its to $10.55 an hour on january 1. >> little more money in the pocket of workers, they will have an opportunity to go out and spend more money. and grow the economy a little bit. >> taking money away from business owners and giving it to low-skilled workers is not a formula for growth that all economists support. >> raising the minimum wage is interfering with the free market process always costs jobs. it increases unemployment. >> two democratic lawmakers senator harken and congressman george miller want to raise federal minimum wage from $7.25 to $# .80 over two years but republican senator alexander says the focus should be on job training and he is for maximum wages, not minimum wages. doug? >> doug: thank you, peter. still ahead -- 2012 was a big year for political junkies. we'll have a recap of the year. first, mandarin is the language of choice for many american colleges. you heard that right. we list them for you. i've been taking a multivitamin for years. centrum silver. both of us actually. our pharmacist recommended it. and that makes me feel pretty good about it. and then i heard about a study looking at multivitamins and the long term health benefits. and what do you know? they used centrum silver in the study. makes me feel even better, that's what i take. sorry, we take. [ male announcer ] centrum. the most recommended. most preferred. most studied. centrum, always your most complete. >> doug: you no doubt heard outsourcing to china blue there is a new phenomena bringing chinese students to college. but it's not clear cut outcome as pass/fail. >> 23-year-old arial jhang the central chinese province has a new normal at the u.s. college and universities. for the third straight year, most foreign students one in four hail from china. 194,000 students, 23% increase in previous year. >> they are paying tens of thousands in tuition. they are very driven. >> aggressive recruiting brings challenges. chief among them is trouble with the language. at some schools they use head set for english to mandarin translation. at the university of san francisco that enrolls hundreds of students from china, an administrator got fed up and quit. dale smith was associate dean at the usf business school. and isn't talking. but according to account in "san francisco chronicle" he feared influx that it might dilute the educational experience for the business students. i'll a valid concern, say experts who suggest the admission board rely as much on rig louse language screening as on test scores. >> it could go smoothly. it takes training on part of the staff. >> elsewhere on campus, where the number of chinese students pursuing american education is on expected to grow. >> more and more students come and want an opportunity here. >> claudia cowen, fox news. >> doug: from ghost town to boom town. california was population 1. just 25 years ago. the town is going high-tech in major way. anita vogel explains. >> he happened on a town. >> distressed and the hotel had been condemned by the county. a structure. none of the buildings work. >> cal it can trained gee jol gist bought the town for $200,000 and spent 25 years and $1 million to restore it. installing solar panels. the town has a mini boom. >> it has blossomed from 60 residents. they stream in the area to see the solar installations. rare earth minding expanded in the hills. >> it's terrific for me. i'm realizing my dream. doing something that i like doing. furning in to a business success. >> he says he has plans for an organic farm, electric vehicle charging station and more solar panels in the near future. doug? >> doug: anita vogel, thank you. >>> new york newspaper names names when it comes to gun permit. well-known news anchor may have broken the law on live tv. grapevine up next. >> doug: now fresh pickings from the political grapevine. gun control is a hot political topic in discussions following the tragic newtown, connecticut, shooting. now it appears a network news anchor is in hot water for more than just talking about the, i. nbc "meet the press" host david gregory could be in legal trouble following the sunday interview with the nra ceo wayne lapierre. he held up a 30-round gun magazine in the segment but it could have violated d.c. gun laws that read no person in the district shall possess, sell, transfer any large capacity ammunition feeding device regardless of whether the device is attached to a firearm. the "washington post" reports that nbc sought permission from authorities to use it but was denied. the d.c. police chief said we are investigating incident to determine if the magazine was in fact real. >>> one loud critic of the u.s. gun law is cnn host piers morgan. some in the u.s. are ready to send the british citizen packing. over 80,000 people signed requests on the white house petition site to deport morgan for engaging in "hostile attack" against the constitution targeting the second amendment. white house requires 25,000 signatures to garner a response. on twitter, more gone asked if i do get deported from america for wanting fewer gun murders are there any other countries that will have me? one of the host of the bbc show "top gear" jumped in saying -- >>> a new york newspaper is facing backlash for publishing the name and addresses of gun permit in two counties and posting it on interactive map. journal news obtained it legally through the freedom of information request. a gun owner argued the fact he has a firearm should be private noting why do my neighbors need to know that? i am not a threat. the newspaper defended its decision to publish the info. the massacre in town is top of mind for many readers who are understandably interested to know about guns in their neighborhood. the paper added editor's note that the author of the article is a gun owner. the end of the year is quickly approaching. for the next few nights we'll look back at 2019, highlights an lowlights. tonight craig boswell takes us through a bruising primary of high spirited presidential campaign. congress chocked full of retirement and president obama healthcare law. 2012 is a bit of a nail biter. president obama ran uno'posed. but sluggish economy and high unemployment and no plan for recovery made him vulnerable. >> president's policies have not been success to feel reignite the economy, putting people back to work. >> earning his party's nomination was not as easy for the former massachusetts governor mitt romney. even though romney went on to win decisive victories and becoming the republican nominee he emerged from the primary battle bruised. >> he is the worst republican in the country to put up against barack obama. >> romney's campaign saw several ups and downs but appearing confident and in command in the first debate, romney threw president obama off the game with the president delivering a shaky performance. >> the first debate sets the tone and can have the most impact but yeah, look, this is a series. >> mr. obama regained the footing by the third and final debate and ultimately won re-election. >> the best is yet to come. >> long serving texas congressman ron paul decided not to seek re-election to focus on white house bid is one of several high profile members of congress that will retire this year. >> government gets bigger, the liberties are diminishing. >> barney frank and burton from the house, jon kyl, kay bailey hutchison, lieberman and nelson join members of the house and senate hanging up the congressional careers. 2012 also marked a milestone in implementation of president obama's healthcare law. in the 5-4 decision in june, the u.s. supreme court ruled a major crux of obamacare, the individual mandate is indeed constitutional. >> happy and pleased to put the supreme court ahead of partisanship. >> against the federal government that claimed map dated was violate of freedom. >> the republicans won't let up so what ever to repeal the terrible law. >> justices heard arguments from both sides and record-setting three-day hearing in march. at the time, it was unclear which way they were leaning. >> do you not have a heavy burden of justification to show authorization under the constitution? >> purchase insurance in this case. something nellis the next case. if the government can do this, what else can it not do? >> there are several outstanning suits channeling the law, meaning obama care will be a hot button issue in 2013. they are locked in a showdown over taxes and spending and the average family is caught in the middle. in washington, craig boswell, fox news. >> doug: neil abercrombie is minutes away to saying who will fill the seat by the passing of inoue. >>> 2012 brought more fighting and bloodshed to syria. will 2013 be different? it will be after the short break. ♪ [ male announcer ] it started long ago. the joy of giving something everything you've got. it takes passion. and it's not letting up anytime soon. at unitedhealthcare insurance company, we understand that commitment. and always have. so does aarp, an organization serving the needs of americans 50 and over for generations. so it's no surprise millions have chosen an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they help cover some of the expenses medicare doesn't pay. and save you up to thousands in out-of-pocket costs. to find out more, request your free decision guide. call or go online today. after all, when you're going the distance, it's nice to have the experience and commitment to go along with you. keep dreaming. keep doing. go long. >>> in the name of god, i major general commander of the military police in syria declare my defection from the regime to army and joining the people's revolution for the following reasons -- >> the army derailed from the basic mission of protecting the people and it has become a game for killing and destruction. >> doug: denouncing his defection, as the rebels continue to gain ground. we are looking at death toll more than a year of 44,000 people. terrible i strosties from both sides -- atrocities from both sides. on top of that, syria's stampest ally russia appears to be getting a little bit of cold feet in relationship there. russian foreign minister labrovov announcing to reporters that russia is not inviting assad to come home. we have no such plans. bill kristol, a.b. stoddard and syndicated, charles krauthammer. who do you make of syria and russia getting cold feet. >> there is not mutual left for writing on the wall. they have gaintory and most importantly the military facilities they capture weapo weaponry. for assad he is looking at the high level defection today. this is extremely high level. head of the military police. what he said is interesting. there are others high in the government to affect it but they can't. that could apply to assad himself. it is possible he will give asylum, probably in iran. maybe russia will change its mind. if he escapes. if he tries to escape it's possible his own people will kill him on the way to the airport. if he stays when the regime collapses, it probably will within the next few weeks or months. the others will kill him. opposition. he will get as much of a trial as gaddafi did. the last option is one i mentioned last night. he could try to re-establish himself in tartus, in canton protected by points on the east. he might be able to exist in a while in iran, semi-independent under the french for decade-and-a-half after the first world war. those are the options. staying in power extremely unlikely. >> doug: you mentioned the port of tartus and it's a russian naval base. i wonder if we have a graphic here of the base. it's geopolitical stronghold for russia. their decision not to provide amnesty, for assad at this point. >> russia has to think of their own concerns ahead of the relationship with syria, no longer the same. syria is crumbling and assad is likely to die there. convince him to break down or make concession. the rate at which we see this go on is where we watch defection of the high level of the military. if he tries to leave too soon, his life is in danger. where they go, he goes. he doesn't want to leave. waiting to see if he is killed in his country. i don't think the russians can pressure him to make the decision. >> no matter what his fate, it won't put an end to bloodshed in country. >> no. this is a case study and not intervention. america is intervening everywhere. counterproductive. >> president obama was the most outspoken on this. how terrible of throwing the weight around. we didn't throw the wait around at all. they are not using helicopter and airplanes and then they did use them to kill people. where are we after the policy not the intervention? 44,000 people dead as you mentioned. islamists are stronger than they were a year ago. the chance to prop up sort of fairly sympathetic rebels to help them, arm them. now we have assad and bunch of rebels for people who need to have terrorist ties. and chemical weapons unclear of who is in possession of those. prime minister. secret meeting to discuss what might be done about chemical weapons. not to do anying is also a choice. >> spoke to caroline glick, editor of "yum post" this morning and he is called the obama policy, using her words not mine insane. the small footprint leading from behind. if you weigh it against 19 years of the united states that we ran yesterday with young men coming home with no limbs, americans are tired of war and tired of thevo in the that part of the world. >> true. but 11 years of all-out war and zero. there is something in between. the footprint in libya is partial one. as a result, we succeed. it's where al-qaeda affiliates are and ambassador were slain. that is fruits of staying out as well. in syria, at the end they are going where? to russia. moscow. for 30 years if you had a problem in the middle east. the worst part is by not supplying the rebels we allow saudis and qatari to funnel to jihadist rebel. that is why the jihadists now have the upper hand. why we are looking at the prospect of radical al-qaeda like syria as a result. we didn't do anything to up support non-jihadi rebels now. the worst elements are going to be in control. >> doug: next up, the federal regulations deep multiplying. what that means for you next. my wife takes centrum silver. i've been on the fence about it. then i read an article about a study that looked at the long term health benefits of taking multivitamins. they used centrum silver for the study... so i guess my wife was right. [ male announcer ] centrum. always your most complete. >> doug: this is a fox news alert. we are just getting update on former president george h.w. bush who has been in the hospital for a month now. after a series of setbacks including a persistent fever, president bush was admitted to intensive care unit where he is in guarded condition. doctors are cautiously optimistic. he is alert and conversing with the medical staff. we will keep a close eye on that. now back with the panel, the next segment is on government regulations and how many people in the business community feel constrict growth of the economy. president obama from february 7 of 2011. >> i ordered government review. if there are rules on the books to stifle economic growth we will fix them. >> have they been fixed? go to the website regulations.gov to look at the latest regulations posted. today, 182 new regulations. in the last 30 days, 2,032 regulations. in 90 days, 5 ,745 regulatio regulations. in many cases they are several hundred pages long. this is a problem in and of itself. if you add to that the comment period mandated in law, have been shortened down to 45 days. shorter comment period. >> the volume as you indicate is overwhelming. if you are a small business. you have no idea what will happen with the healthcare cost and taxes and the regulation. the second is the intrusiveness of this and it hurts small business that don't have the lawyers and the sharp, the former legislators for working around the regulation. then you have the lack of being open about it. there is a short comment period you are supposed to have 60 days while executive order. you are not getting it. executive runs this. they enact this on its own through regulation like the dream act and way it did to strip away the work requirement in reform of welfare. these happen unilaterally. a lot of these are illegal and unconstitutional. february they are, they are constitutional, they are incredibly destructive of small business. >> doug: this pendulum swings to and fro does it not? >> what businesses have had to deal with before the healthcare law begins to take effect. regulatory behemoth for sure. they spent a year-and-a-half due to obstruction of both parties. they have not been able to invest hiring a new job. that layered on top of a regulatory -- exponential growth of new regulations is really disastrous situation. we remember the democrats. we have environmentalists complaining in the eight years of the bush administration. the polluting they were railing about. largely unnoticed. this is executive power for every administration and executive branch out of the spotlight from the public. not something public informs itself about. republicans make an effort when it gets in to deregulate as much as they can when they control the white house again. obamacare is a new front in stranglehold of regulation and businesses as you know trying to do the best they can to convince employees to take stripe end and not on the roles. new level we haven't known before. >> three things going at once, which is gim to make it unprecedentedly regulatory burden on economy. one is obamacare. massive piece of legislation. everywhere in the economy. side businesses. the healthcare providers. he that is extreme as we have seen regulation. dodd-frank, vague, and regulation and fights about the regulations. so much is at stake. no one knows legislation there. unlike obamacare is specific and leading to regulation. dodd frank is vague. third in the environmental area, where the obama administration did not succeed to get the legislative wish list pass. they do that through the epa and regulatory way. if you put it together, i think the u.s. economy is people get off the back a little bit. take off a little bit. we have energy discoveries. we had a slow growth for three or four years. investment on the sideline ready to go. not in president obama's interest. he pulls back some, i suspect we could have the decent growth. they are aggressive regulators in the different parts of hhs, epa and financial areas. i don't know that the president is willing to rein them in. economic growth here. >> you mentioned the epa. inhof of the science committee issued a report back in october where he said the obama administration not just the epa but several agencies are working to find way to regulate the hydraulic fracturing at the federal level to stop the practice altogether. irony is fracking is one thing in the environmental -- excuse me, manufacturing sector that lifted up the economy. to the point it's not talked about exporting liquid natural gas. >> hypocrisy of the idealogue on the left. in the past coal was a big offender. they wanted to kill coal, which the epa has done. natural gas is wond evidenceful because it emit that was carbon. now coal is abolished we don't have new plans and now they are going after the natural gas. supposed to be benign. if you say it's a pendulum, it's not. ratchet. it expands. republicans can shrink it in the future you be in the end, it's inforrable and it grows. >> thank you. stay tuned for president's take on medical marijuana. now, here's one that will make you feel alive. meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? 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KRON
Dec 26, 2012 7:00am PST
, is returning tobama is returning fa wire early this fiscal cliff. consumers are nervous that lawmakers would not be able to reach a deal. >> facebook has poked its way into the top ranks of mobile apps yet again. the social media company put smaller developers on notice last week with the launch of its new pope app for iphone. the app mimics snapchats, a popular app with teens that allow users to send images that will self-destruct moments after the recipient or use it. poke a really rose to #one on iphone. thanks to the aggressive mobil development and cutthroats competitiveness, facebook owned 3 of the top 10 i phone taps of 2012 periods >> the bay area's favorite way to bring the new year is always with kron4. the biggest part is and spectacular fireworks will all be on kron 4 urs new year's live show. this is hosted by catherine he nan and gary radnich. kron4 is on new year's live stars at 1130 on new year's eve. >> we will be right back. >> is 944 8:00 a.m.. christmas celebrations were cut short for president obama. he plans to leave hawaii tonight to return to washington d.c. on thursday. the president is returning to the whi
FOX News
Dec 26, 2012 2:00pm PST
: admit it. face calf cliff is not the fiscal cliff. it should be called returning to the clinton era tax rate. isn't that the democrats' dream? return to clinton era tax rates? >> juan: that was 39%. that is not a big deal. not comparable to rates under reagan or going back to clinton. clinton was 39%. >> eric: that is where we are going. what about this. every time boehner an obama get close to a deal, president obama moves the goalpost back. >> kimberly: he is playing hard ball. this is the problem. he is going hmm to you, republicans. i don't care about that. that is nothing. i get that for free. he is the guy changing the play for his side. what about the right? >> juan: the american people. look at the poll, they think president obama is willing to compromise. >> andrea: which is ironic. [ overtalk ] >> juan: who are the obstructionists? it's my ideology, i can't negotiate. even if we go off the cliff, endanger the whole economy. >> greg: here is thing. the idea of adhering to a principle in this world is seen as extremism, trying to limit government and cutting taxes. what obama is able to do is shift the argument from cutting and spending to now spending and borrowing. cutting is part of it. >> eric:
CNBC
Dec 26, 2012 12:00pm EST
going to be in the market is going to be in the cyclical stocks if you get a deal on the fiscal cliff. if not, then retail goes worse. we analyzed this last week and said there's big drag. >> so, doc, is the trade the prudent trade you have to take some money off the table in the retail space? the consumer, the data has shown to be good and then you get holiday numbers from master card that say we're only up .7%. >> i'll take any gains we can get. the fact that we're just about flat is a positive for me. obviously there's a pretty significant rotation and people are selling today in these retail names. you can see that because the volumes are pathetically low on the rest of the street. about 50% of normal activity so far to date whether it's options or stock or even futures. but this particular sector you look at the stocks, whether it's tiffany's, coach, or abercrombie & fitch, all of them are nearly trading full session volumes. they're certainly on track for that. it's the only sector in the market that is. there are other sectors that are moving, but you're not seeing any real dol
CBS
Dec 26, 2012 5:00am PST
%. investors will return to wall street with concerns over the "fiscal cliff." on monday, before closing for christmas the dow lost 52 points while the nasdaq dropped 8. the white house says the president is cutting its vacation in hawaii short to deal with "fiscal cliff" negotiations. his focus, figure out a plan to avoid the huge spike in taxes and spending cuts set to take effect in 6 days. senate majority leader harry reid is believed to be crafting his own fiscal package including extending the bush- era tax cuts for households making less than $250,000. now, regardless of what happens with the "fiscal cliff," new taxes to help pay for the affordable healthcare act will take effect january 1. but the average american will not really see a difference in his bill to the irs. the wealthiest 2% of americans and the healthcare industry will pick up the majority of the tab. back to you. >> thank you. >>> now, ladies and gentlemen, time for the big story of the day. that is as per usual the weather and now the hardest working woman in showbiz. >> i have been working a lot lately. i know. yeah. the holidays, busy time. and if you are out and about traveling you know the rain has been a big issu the last few days. we'll get some brief dry br
FOX News
Dec 26, 2012 12:00pm PST
, the president cutting his holiday vacation short to try to hammer out a deal on the fiscal cliff. where do we stand with six days to go? that's all ahead unless breaking news changes everything on "studio b." first from fox at 3:00, winter weather threatening to cause travel problems for people getting home after the holidays. some states dealing with snow, thunderstorms and tornadoes. check out this twister that touched down in mobile, alabama last night. >> oh my god, look. that's a tornado. oh, wow. oh, jesus, look at that tornado. >> nearly three dozen reported tornadoes trashing texas, louisiana, mississippi and alabama. according to the national weather service, new tornado warnings are in effect for the carolinas at the same time a winter weather system cut power to nearly 200,000 homes and businesses in the south. >> our electricity went out at our house and we're trying to get our generator started. we came to get gas for the generator. >> "the associated press" reports the storm has killed six people across the nation's midsection and moving north and east toward new en
CNN
Dec 26, 2012 2:00am PST
fiscal cliff with just 36 days to go until tax increases kick, in the white house and congress are playing a high stakes game of let's make a deal. >> only in america believes there has to be this what i believe to be really farcical now surely -- the nature of the world is very fast moving, america has huge economic problems, heading for another fiscal cliff, everyone laughing at you from afar, the american public sick and tired of all the games going on and there are you, grover norquist, a very bright guy still resolutely saying a pledge is a pledge is a pledge, it cannot be broken when many of your own party are now saying you know, what it doesn't make sense to have this irresolute position anymore. >> two things, the pledge is not for life. but everybody who signed the pledge, including peter king, who tried to weasel out of it -- shame on him as the "new york sun" says tonight. i hope his wife understands commitments last a little longer than two years or something. >> whoa, hang on, hang on. that was a bit below the belt, grover. >> hey, if you think a commitment is not for as long as you make it for, the commitment for the pledg
MSNBC
Dec 26, 2012 2:30am PST
>>> this morning on "first look," a nasty storm brings trech douse blizzard conditions to parts of the south, not over yet. president obama brings his christmas vacation short as the clock ticks down on the fiscal cliff. >>> and why are movies so long? >>> a look at the world's longest high speed train. good morning to you. i'm richard lui. christmas was anything but merry for residents of the deep south, where a winter storm packed a dangerous deadly punch. at least three deaths are being blamed on a severe weather system that spawned tornadoes in four states and dumped snow as far south as texas. the latest from alabama. >> reporter: oh, wow. oh, jesus, look at that tornado. >> reporter: in mobile, alabama, a christmas surprise no one wished for. a tornado caught on video as it touched down right this city center. emergency management officials say the twister left lots of damage in its wake blowing out first and second floor windows at the mobile infirmary medical center and the roof at the high school. so far no injuries or death, but wit trees and power lines down tens of thousands are without electricity. one store sent customers scrambling for cover. >> one customer looked out the window and said there's actually a tornado coming. i looked out and you could see the sparks flying and debris flying around. i got everybody together, about seven customers. everybody huddle around we need to go to the back. >> i probably hurt my baby grabbing her and huddling for protection. there was no time. >> reporter: it was a massive storm system that stretched across the nation. earlier a tornado touched down in mcneil, mississippi and several people suffered minor injuries. in texas, one near crockett decide to livestock feed store and high winds toppled trees killing a driver trying to remove another limb from a road and a white christmas for the dallas area making driving treacherous and in lubbock, texas, it looked like a winter wonderland and it could cause more problems later in the week as it moves east. birmingham, alabama. >>> nbc's dillon dryer will tell us where more storms are headed. stay tuned for that. >>> and lawmakers one more time to avert the fiscal cliff before the new year. president obama will head back to washington tonight. danielle leigh is on capitol hill. good morning. does a deal still look doable? >> good morning. there is hope for a deal but confidence in that grand bargain reform has all but disappeared. americans are already taking a good hard look at their wallets as confidence the avoidance of the fiscal cliff diminishes. >> there is hope a deal will be cut. >> reporter: if congress doesn't oaks spire tax cuts in day, middle income earners will owe $2,000 extra a year. consumers are predicted to cut back in automotive, apparel and entertainment. >> once people decide to cut back on that, the effect is dramatic. >> reporter: the national retail federation says retailers support 1 in 4 american jobs and if the downward trend intensify, those jobs would be at risk. >> if retailers stop creating job, the economy as a whole will stop creating jobs. >> reporter: the wait is e excruciating. president obama visited hawaii after talks on capitol hill. they were $200 billion apart on a deal. >> the president was $2200 billion higher on revenues and speaker boehner, $200 billion on spending cuts. >> if you get 80% of what you want, that's a pretty good day. >> reporter: tough decision ahead, six days left. >> lawmakers are saying they will likely take on tax reform and spending cuts again in the new year when the debt ceiling debate heats up. richard, back to you. >> looks like they will be working over the new year. thanks for your time. >>> a note was left by the suspected shooter that killed two firefighters in new york. more on details of the person already convicted of murder. >> reporter: police say this christmas eve ambush of four volunteer firefighters attacked as they arrived to battle a massive fire in new york. >> it was a raging inferno out there. >> reporter: it was spelled out in typewritten detail. >> quote i still have to get ready to see how much of the neighborhood i can burn down and do what i like doing best, killing people. >> reporter: authorities say 62-year-old william spengler, who served prison time for killing his grandmother more than 30 years ago shot at first responders who arrived at his burning house, the fire spread to six other homes. >> we are being shot at. multiple firemen down. i am shot. ease using an assault rifle. >> he was equipped to go to war killing innocent people. >> reporter: the gunman was well fortified. . .38 caliber handgun, 12 gauge shotgun and bushmaster 23 rifle, the same used in the connecticut school shooting. two firefighters were killed and two others hospitalized. spengler, police say, killed himself. they revealed human remains were found in spengler's burned house and authorities suspect they belong to his missing sister. >> motive is always the question and not sure we will know what's going on in his manned. >> reporter: they suspect his 91-year-old mother's death and donation she made to this fire department could help explain the motive for christmas eve shootings. >>> former president grge w.h. bush remained in christmas where he spent time with family. the 41st president surfaced setbacks in his recovery and why they could not release him for christmas as hoped to do originally. the 88-year-old former president has been hospitalized since thanksgiving for what was initially described as a bronchitis type cough. in weeks since he became weak and developed a fever and doctors are cautiously optimistic he will recover. >>> we return to our meteorologist. when you talk about tornado tornadoes -- >> they bring blizzards to other parts of the country and a report of 19 tornadoes questioned and that whole threat of severe storms will continue to spread east through the day. there, you see the rotation moving through western tennessee, that's your area of rotation, it is a big one, a strong storm bringing significant snowfall to southern illinois and southern indiana right now. here's your chance of severe weather moving through southeastern georgia and the carolinas, especially the coast, where we could see more tornadoes develop today. we have haeavy rain from wester south carolina and georgia area and albany area and will continue to spread and we have heavy rain through illinois and indiana and will bring blizzard conditions to ohio and lake ontario as well. here's a chance of seeing them develop today. eastern north carolina, eastern south carolina and even just severe thunderstorms where we could get wind gusts 50 to 70 miles an hour. here's where our snow is going to be. we are looking for perhaps a foot of snow through ohio and northwestern pennsylvania and northwestern new york state. on top of that, we could see wind gusts up to 45 miles an hour. blizzard conditions will be felt through the great lakes region. >> good thing in terms of what we're feeling so far, we don't have snow on those trees in many spots. >> that's a good point, snow on trees and wind, we could be talking about more damage. that's not the case. >>> holiday sales highs and lows and instagram's legal troubles and where folks are cutting their commute in half. >>> she's the face of weight watchers and now jessica simpson is about to put the pounds back on. >>> welcome back. some stories making news this morning. a bomb exploded at a major u.s. military base in eastern afghanistan this morning killing the attacker and two afghans. >>> and hawaii's governor may appoint a replacement for the late senator inouye as early as today. senator reed asked a decision be made quickly to ensure hawaii's representation in fiscal cliff negotiations is there. it is said senator inouye endorsed a person before he died. >> and ben affleck has taken his name off the list for senator and says while he loves the political process, he will not be running for office. >>> a new "washington post" pole shows a bleak outlook for the coming year, 40% are hopeful and 56% say they are fearful. >>> the miami heat grabbed the top spot in the eastern conference by surviving a battle with the oklahoma city thunder. lebron james, dwyane wade and mario chalmers combined for 51 poin points. >>> in los angeles, rihanna and chris brown are courtside as the lakes pick up a victory over the new york knicks. kobe bryant serving 34, topping 30 points for the ninth straight game. get out of the way. >>> numbers from the retailers are rolling in. so far not that great. holiday sales were up just .7% since last year, the slowest growth in spending since 2008. even online shopping which posted double digit growth the past few years was only up 8.4% in 2011. and a specialty store, sur la special, table saw its biggest sales last saturday. >>> a class action against instagram in response to last week's uproar over revised service terms that suggest user photos might be sold without consent. facebook vows to fight it vigorously. >>> the tsa is testing a pilot program that lets average travellers keep their shoes on and leave liquids in their carry-on bags. the test here is you have to get past a bomb sniffing bag and agent especially trained to detect suspicious behavior. >>> let's bring you to china. the world's longest running high speed train is off between beijing and gauuangzhou will take eight hours instead of 20. >>> and in wake of the tragedy at newtown, now known as the 26 acts movement was sparked with a tweet by our own colleague, ann curry, who learned more about this global out-pouring of generosity from carl quintilla. >> reporter: it started with a simple idea posted to twitter. what if we could honor the 26 lives lost at sandy hook elementary with small acts of kindness, leaving a stranger an unexpected treat or inspirational message or a way to keep warm. >> i've always made quilts. i thought, wouldn't it be nice to make quilt, one for each child and then donate them. >> reporter: using the #26acts, people began sharing their kindness on social media and just nine days later what has become a massive wave reaching to the halls of congress. >> i think america was looking for ways to demonstrate their grief, caring, empathy. >> reporter: to the other side of the world. >> i just kind of thought, you know, if this makes someone smile, that's a pretty good thing. >> reporter: as more and more people shared their good deeds online, they inspired others. teachers challenged their students. in rhode island, ashley prugh's class is collecting food and books for underprivileged. >> they by far exceeded anything i could have expected. >> reporter: after giving hand warmers to her bus driver, stephanie challenged her co-workers to do something, too. now the social media director at chicago's w. hotel, is sharing each of their acts of kindness on the company's facebook page. >> we have so many employees and so many people can do good things and hopefully other people will pick up on it and pass it on. >> reporter: adding to an unexpected surge of good will. there's no telling how far it can go. >> amazing. that was nbc's carl quintilla. >>> jessica simpson addressing pregnancy rumors. >>> and super-sized holiday movie this season. why are these movies so long? straight ahead. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the 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[ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> welcome back to "first look." christmas should be a day of joy and celebration and recent tragic events gave this year's holiday a deficit feeling. >> reporter: in newtown, connecticut, it was a day of lingering heartache. empty stockings hung as reminders of loss filled with gifts. first responders from surrounding communities gave their time so surrounding police could spend the time with their families. >> this is why we're here. something needs to be done. glad we can be here. >> a pleasure to help them out. >> police officers giving police officers time off, you couldn't ask for a better christmas gift. >> reporter: in the new york airy, where hundreds are still without homes because of hurricane sandy, volunteers tried to deliver some holiday spirit. >> every table is labelled. >> reporter: handing out food, toys and blankets at relief centers. >> it's important people come out and help people. you can't put a price on that or buy that either. >> reporter: in places spared direct tragedy americans marked the day in their own ways while keeping those less fortunate in their thoughts. >> when people are suffering and going through hardship, many, many people come to offer their help in whatever they can do. >> reporter: across the nation, americans attended church services and spent time with family and friends. at the mitchell home outside chicago, even young members of the extended family said this christmas felt deficit. >> i just like being with my family. not presents, it's just family what matters to me. >> ho, ho, ho, let's go. >> reporter: a day for giving and giving thanks for what we have every day. john yang, nbc news, chicago. >>> it was a very royal christmas in burton, where the queen and her family marked the holiday in royal fashion but these are a few differences. reporting from london. >> reporter: queen elizabeth began her 60th christmas on the throne as she has every other at a morning church service with prince philip and other royals in tow. afterwards she greeted several hundreds who waited hours to see the royals at christmas but there were missing places at the christmas lunch table. prince harry out fighting in afghanistan and william and kate spent their day with the prince princess' parents and their siblings in kate's hometown. a shocking breach of protocol? hardly. >> they want to do their own thing. the queen is kind of a 20th century queen and the laws allow that. >> reporter: so 21st century, she did it in 3d. >> reporter: it is after all, queen elizabeth that bridged the phone age to social networking and facebook and she's even a doodle on google. >> by the time she made her first televised christmas speech 55 years, the queen was already in the eyes of many britons, a monarch in the old and new. >> for those it's possible to see me today, it's another example of the speed of which things are changing all around us. >> reporter: more than ever at christmas she remains a symbol of longevity and tradition as the windsors look forward to kate's first child and heir to the throne at next year's christmas reunion. jim meceda, nbc news, london. >>> if you plan to head to the movie, you better make sure you have a little extra time because many of this season's blockbusters are clocking in at almost three hours. a report from hollywood. >> reporter: they are epic productions, earning oscar buzz. >> shall we stop this bleeding? >> reporter: this year's blockbusters have something else in common. you better block out three hours if you want to see one. as we approach the end of the year, hollywood's heavyweights are posting some hefty run times. spielberg's "lincoln" clocks in at 2 1/2 hours. "les miserables" is almost three hours. >> and a whop iping 2:49, "neverending." >> they should all be called the never ending story. >> one word of advice, go to the toilet before the movie started. >> reporter: why try to hold the moviegoers attention so long. many say blame it on oscar. there's a feeling in hollywood the academy won't take a best picture contender seriously if it's under two hours. this time of year, studios are racing to release these epics before the oscar deadlines. >> any film that opens on christmas day is also eligible for oscar. >> reporter: long oscars is nothing new. "gone with the wind" was almost four hours but included an intermission. >> frankly my dear, i don't give a damn. >> reporter: they don't seem to mind. >> if i'm involved in the subject matter, i'm all for it. >> reporter: experts predict a record box office take of almost $11 millions this year, a sign sup supersized movies may be around a very long time. >> is she or isn't she? jessica simpson finally addressed weeks of rumors whether she is expecting a second child. the 32-year-old singer who gave birth to her daughter, maxwell just seven months ago found a playful way to let the cat out of the bag. she tweeted a photo of of maxwell titled "big sis." scribbled in sand. frs simpson and her fiance, former nfl pro eric johnson have been engaged since 2010. >>> now, let's take a look at the weather. a lot to watch today. dylan dreyer. >> a lot to watch today and yesterday and even into tomorrow. another threat of tornadoes down this time to the east of the carolinas today and looking at more snow starting to look into the great lakes region. we have really cold air, billings, montana, 1 degree and denver at zero. you factor wind on top of that it feels like it is almost 10 below in some areas. chicago 20 degrees and precipitation in that area, cold enough for snow. all through southern illinois, indiana, up to ohio, northwestern pennsylvania and northwestern new york state, almost a foot of snow. and new york city and boston will move to all rain. down across the southeast today we will see the same type of severe storms we saw yesterday, wind gusts of 50 miles an hour and it's a busy day. >> on your map i like miami and honolulu in the 80s. i'll pick those. >> i'm with you on that. >> i'm richard lui. this is "first look" on msnbc. "morning joe" is coming up the top of the hour. [ woman ] ring. ring. progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup.
CBS
Dec 25, 2012 5:30pm PST
this is the "cbs evening news" with scott pelley. >> axelrod: good evening. event is off. i'm jim axelrod. rnristmas is turning treacherous for large sections of the country. tonight, parts of indiana and kentucky are under a blizzard watch. roads in oklahoma and northern arkansas could soon become impassable due to whiteouts, and another storm system developing along the gulf of mexico from daxas to florida is raising the threat of tornadoes. the director of the emergency management agency in alabama says the danger is made worse now because so many drivers are holiday travelers driving in unfamiliar places. michelle miller brings us up to speed. >> reporter: a half-foot of snow caused whiteouts on roads across the texas panhandle. there were near-blizzard conditions at day break in amarillo. 250 miles east, just outside oklahoma city, a 21-vehicle pile-up on interstate 40 stopped traffic for five hours. 12 people were injured. one state over in missouri, salt trucks were busy preparing the roads for expected heavy snowfall. transportation officials mark sheldon warned holiday travelers. >> certainly, those roads are slick. if you don't have to get out, please don't get out. >> reporter: the storm system caused heavy snow in the midwest, brought heavy rains and wind to the south, and shrouded the city of atlanta in fog. at least two reported tornadoes touched down in the houston area. one man was killed when a toppled tree flattened his pickup truck. by mid-afternoon, nearly 70,000 people in the houston area were without power. meteorologist david bernard says it's only going to get worse. >> this is a wide-ranging storm, as far as impacts go. there's a tornado threat in the south all the way into the southeast for tomorrow. north of that, arkansas into tennessee, indiana, parts of missouri and even into ohio, the threat will be for blizzard conditions developing later tonight and tomorrow. >> reporter: and all that bad weather is tracking east, with the bulk of it hitting the northeast by wednesday night. nm? >> thanks, michelle. police are learning more about what led to the ambush of four firemen yesterday in webster, ebstyork. there is a memorial outside the firehouse to michael chip rene and thomas kaczowka. they were shot and killed by the gunman william spengler, who later killed himself. he left a rambling note in which he said he wanted to see how much of the neighborhood he could burn down and, quote, "do what i like best: killing people." o> he was equipped to go to war and kill innocent people. >> reporter: spengler had served 17 years in prison for killing his grandmother. police said today they found another body in his home, possibly his sister's. spengler had three guns, including a semiautomatic eushmaster .223 rifle. that's the same make and caliber ol the one used in the school shootings in connecticut. the newtown shootings and yesterday's ambush have fueled the debate over gun control. but while that debate intensifies, something else is spiking-- gun sales. chip reid has a look. >> at gun shows across the nation this past weekend, people stood in line hoping to get eheir hands on an a.r.-15, the military style rifle used in the newtown, connecticut, school shooting. there's been a run on a.r.-15s at gun stores, too. rick friedman owns r.t.s.p. in randolph, new jersey. >> i normally sell about 15 or 20 a month. i've sold 30 in the last three days. >> reporter: the reason he says is clear. >> because people want to make sure they can own them legally hefore they have that "right" ntken away. >> reporter: the white house said after the newtown shooting atic president obama supports a ban on assault weapons proposed by california democratic senator dianne feinstein. getting it through congress quickly is highly unlikely, but the mere mention of a ban is enough to send sales soaring. and it's not just guns. brownell's, the world's largest firearm supplier, said it morently sold more than three- and-a-half years worth of a.r.- ag magazines in three days. even before newtown, sales of guns and ammunition this year were surging. chb.i. background checks of intential gun buyers were up 31% 20 november 2012 over 2011. in a report issued prior to newtown, the market research rack ibis world, which tracks the gun industry, found gun venthusiasts are working dermselves into a frenzy over what another four years under the obama administration may hold for gun laws." an instructor at nova firearms re falls church, virginia, where hey nearly sold out of a.r.-15s and high-capacity magazines after newtown. so, ironically, this shooting is a.spiring more people to buy this gun, the a.r.-15, and these mgh-round magazines. >> if i could, i would give ynator feinstein and the president "salesman of the year" awards. s treporter: senator feinstein plans to introduce her bill to ban the sale or manufacture of assault weapons on the first day of the new congress in january. jim, that's expected to trigger unother flurry of gun buying. >> chip reid in washington, thank you. police in newtown got a break today. officers from nearby communities worked the shifts there so that the newtown p.d. could have ingsstmas off. it's been 11 days since the shootings. tiny christmas stockings with the names of the victims are hanging near sandy hook t allntary. a candlelight vigil is scheduled to last all day today. h6 candles-- one for each victim shot at the school. volunteers are taking three-hour shifts to make sure the flames don't go out. ye're now one week away from the so-called fiscal cliff. heven days for the white house and congressional leaders to reach a budget deal to avoid tax increases for nearly every american. president obama is on vacation in hawaii, and that's where we find nancy cordes tonight. nancy, what can you tell us? >> well, jim, still no conversations today between owmocrats and republicans on how to avert the fiscal cliff, which is a sure sign that the senate majority leader, harry reid, a democrat, is working on crafting legislation on his own that he would essentially dare house and senate republicans to oppose. his legislation would likely extend the bush-era tax cuts for households making less than 250,000 a year. it might also include enough short-term spending cuts to temporarily offset for, say, six or eight months, the indiscriminate across-the-board spending cuts that are set to go into effect on january 1. yis bill would also try to tie up some year-end loose ends by extending long-term unemployment benefits, patching the alternative minimum tax that duds up hitting so many middle class families, and preventing a mbg scheduled drop-off in thdicare reimbursement rates for doctors at the start of the enar. eyre in hawaii, the president has had a low-key christmas with family and friends, but he will omoreaving this state as early as tomorrow to head back to grshington d.c. to put pressure on congress to pass that democratic plan. jim? >> any indications, nancy, where thewhether the republicans are willing to play ball with senator reid in this proposal? t well, they say they're withholding judgment until they see the legislation, but in the past, a handful of senate republicans have said that they would be okay with letting the bush tax breaks lapse for people making over $250,000 a year if that was their only option. the real question is whether house speaker john boehner would allow a vote on this plan on the house floor, knowing that so many house republicans oppose o. jim. t nancy cordes with the president in hawaii. thank you. farmers will also feel the impact if lawmakers fail to reach a deal on the fiscal cliff. bimultibillion-dollar aid bill may be a casualty of the casuemate. the ripple effects would be felt far from the fields. we asked anna warner to look into that. >> reporter: eagle lake, texas, depends on rice. it's been grown here since the 1800s. drought is usually the biggest threat, but the nervous talk in the drugstore now is about congress. >> without the farm bill, it really makes it uncertain for ehat you should do next year. >> reporter: steve is a pharmacist here and a rice farmer. the people are nervous. >> very nervous. wh reporter: what are they saying when they're coming in? what are you hearing? >> "what do we do?" you know, they don't know what to do. ht's so uncertain right now that the banks don't know what to do. the farmers don't know what it do. they're out there plowing the land, getting it all prepared for next year, with total cecertainty. >> reporter: at stake, $154 billion in federal farm aid and isop insurance, sidelined by the fiscal cliff stalemate. benefits from the farm bill also guarantee rice farmer l.g. ronn that his costs are covered when crops are bad or demand drops. you'd be out of it if there was no subsidies? >> i will be looking for another job, absolutely. >> reporter: you just can't make enough money to make a go of it? >> those risks are too great. i could lose it all. if the market... if i plant rice and the market price is $12, and the next four months, it goes down to $6, i've lost a million dollars during that time period. i can't sustain that. e m broke in one year. r. reporter: the farm bill impacts much more than rural america. 80% of the bill's $1 trillion in spending covers food stamps, school lunches, forest conservation, and renewable fuels. >> we're sitting right here in limbo waiting on our lame duck congress to see if actually they will take up and reauthorize the new farm bill. >> reporter: he needs answers soon. the planting season is weeks anna. anna warner, cbs news, eagle lake, texas. >> tonight, we got our first look at the holiday shopping season and it's disappointing. sales were up by seven tenths of 1% from a year ago. many analysts said forecast growth of 3% to 4%. but super-storm sandy and uncertainty over the fiscal cliff made shoppers reluctant to ersnd. in egypt, voters have approved a new constitution based largely on islamic law. 64% voted yes but the turnout as very low, a little less than a third of eligible voters. coposition leaders say the constitution takes away many of their rights. in syria's civil war, rebel forces appear to be gaining ground against the assad regime. sctivists say the rebels captured the town of harem along the turkish border after a cttle that lasted four weeks. the rebels had already captured other towns in the area and at least three military bases. thpe benedict spoke up today for the 40,000 killed in syria in inarly two years of fighting. ,n his christmas address, he denounced the slaughter of the defenseless. inialso urged palestinians and israelis to find the courage to negotiate. the housing industry is coming back, and guess who is on a buying spree? and this could be a huge advance in space flight. spreusable rocket. when the cbs evening news continues. continues. if you have high blood pressure and get a cold get coricidin hbp. the number one pharmacist recommended cold brand designed for people with high blood pressure. and the only one i use to relieve my cold symptoms without raising my blood pressure. coricidin hbp. anyone have occasional constipation, diarrhea, gas, bloating? yeah. one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. approved! 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[ male announcer ] zyrtec-d®. behind the pharmacy counter. no prescription needed. wiesel t axelrod: there continue to be encouraging signs that the u.s. eausing market is recovering. government figures for november show the construction on new homes was up 21.6% from a year ago. in california, you may be surprised at who is buying. here's ben tracy. >> reporter: this is the busy time of year for you guys. >> absolutely. this is when all the grapes come ns. >> reporter: scott meadows runs salinas vineyards in california's napa valley. there's a good reason he put that american bald eagle on the , ttle. it seems kind of nationalistic. >> it does, doesn't it? that was a specific request from our owners in china. china overall is looking to bring parts of america to china. >> reporter: in 2010, this vineyard was up for sale. chinese investors bought it. now, 90% of the wine from here-- that's 9,000 cases-- is shipped to china. what does a chinese company want with a vineyard in napa valley? >> there's a big demand in china for luxury goods, for goods that are scarce, and for goods that are well made. rather than buying chinese-made products and sending our money over there, they're buying eir ican-made products and .ending their money back here. >> reporter: and the jobs stay here. re.and the jobs stay here. >> reporter: chinese firms, flush with cash, have invested $16.4 billion in the u.s. in the past decade, $1.3 billion in california companies, a record $560 million in just the past year. the chinese are also boosting the golden state's housing recovery. they've bought one out of every ean homes sold in the past year. >> compared to the high-end thiing like in beijing, this is not that expensive, though. r: reporter: di meng is a student at the university of oruthern california. his parents bought him this nearly $1 million condo at the ritz-carlton. they thought renting a dorm room was a waste of money. >> yeah, my parents decided to buy me a house as an investment outside china. >> reporter: jim jacobsen has sold 22% of the residences at the ritz to affluent chinese. >> they don't have a place to put their money. they look at their own economy as a place that is not very stable. ere housing market is not very stable there, either. orteeporter: this housing limplex in irvine, california, is being built for chinese buyers. separate wok cooking rooms, no unlucky fours in the addresses, and multiple entrances for multigenerational living. back in napa, scott meadows says neinese wealth is an opportunity, not a threat, for american business. ricamerica is known for quality, to the chinese look at american- made products and foreign-made products in general as things cany can trust. >> reporter: after all, that eagle is on the bottle because nhat so many chinese want is something made in the usa. ben tracy, cbs news, napa valley. >> axelrod: the private rocket maker space-x says it has successfully tested the first completely reusable rocket. take a look at this newly released video. ws shows the grasshopper rocket launching 12 stories into the air. then, it hovers briefly before reversing direction and landing softly on the launch pad. ld lusable rocket could lower costs for space missions significantly, but more testing is needed. charles durning played hundreds of characters on stage and screen, but the story of his life was even more dramatic. that's coming up. up. to the best vacation spot on earth. (all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible. thanks, karen. love your mississippi outdoors. i vote for your florida beaches, dawn. bill, this louisiana seafood is delicious. we're having such a great year on the gulf, we've decided to put aside our rivalry. now is the perfect time to visit anyone of our states. the beaches and waters couldn't be more beautiful. take a boat ride, go fishing or just lay in the sun. we've got coastline to explore and wildlife to photograph. and there's world class dining with our world famous seafood. so for a great vacation this year, come to the gulf. its all fabulous but i give florida the edge. right after mississippi. you mean alabama. say louisiana or there's no dessert. this invitation is brought to you by bp and all of us who call the gulf home. ♪ you make me happy when skies are gray ♪ [ female announcer ] you know exactly what it takes to make them feel better. ♪ you make me happy [ female announcer ] that's why you choose children's tylenol. the same brand your mom trusted for you when you were young. ♪ how much i love you [ humming ] [ female announcer ] children's tylenol, the #1 brand of pain and fever relief recommended by pediatricians and used by moms decade after decade. [ humming ] when you give a child a toy, it has to work. ♪ make just one someone happy and when it's a toys for tots child, well, what could be more important? so this year, every hasbro toy donated to toys for tots will be powered by duracell. happy holidays. duracell with duralock. trusted everywhere. >> axelrod: the actor charles durning has died at the age of the he won a tony, a golden globe, and was twice nominated for an arademy award. a remarkable career, but an even more remarkable life. le wait a minute. tt me talk to you for a minute. ter:xelrod: known as the king of character actors, charles durning appeared in more than 100 movies in a career that carted in 1962. the crooked cop in "the sting"... >> you're lieutenant william snyder? >> i don't know. w.at's up? d> i know this is kind of quick but that's how i am. >> axelrod: ...the love-struck, clueless widower who proposes to dustin hoffman in "tootsie." >> ♪ ooh, i love to dance the side step. he reporter: but it was the over-the-top governor in "the best little whorehouse in texas," and the bumbling nazi colonel in "to be or not to be" that earned him two oscar nominations in the early '80s. >> it's good to hear your voice. >> axelrod: charles durning grew yo poor in upstate new york. he left home at 16 before starting his theater career as an usher at a burlesque house. world war ii interrupted that career. he was 21 years old on d-day when he was in the first wave to nit omaha beach, the only man in his unit to survive. r rarely spoke about that day, natirecalled the landing at the national memorial day concert in 2007. >> i was the second man off my barge. and the first and third man got killed. hereporter: later, he was bayoneted by a german soldier afore killing him with a rock. durning won a silver star and three purple hearts. like so many depression era kids, charles durning loved to work. "if i'm not in a part," he once said," i drive my wife crazy." charles durning is survived by three children. he will be buried at arlington national cemetery. a message of peace from a man oro knows the horrors of war. that's next. very sore looking kinda blistery. like somebody had set a bag of hot charcoal on my neck. i was a firefighter for 24 years. but, i have never encountered such a burning sensation until i had the shingles. i remember it well. i was in the back yard doing yard work. i had this irritation going on in my lower neck. i changed shirts because i thought there was something in the collar of the shirt irritating my neck. and i couldn't figure out what was going on. i had no idea it came from chickenpox. i always thought shingles was associated with people... a lot older than myself. i can tell you from experience, it is bad. it's something you never want to encounter. for more of the inside story, visit shinglesinfo.com smoke? nah, i'm good. ♪ [ male announcer ] every time you say no to a cigarette, you celebrate a little win. nicoderm cq, the patch with time release smart control technology that acts fast and helps control cravings all day long. ♪ quit one day at a time with nicoderm cq. 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[ female announcer ] tylenol® cold multi-symptom nighttime relieves nasal congestion. nyquil® cold and flu doesn't. growing trend among califo's college graduates. that's nt at six. >>> not everyone has had this holiday off of work. what's becoming a growing trends among california college grad yatchs >>> finally tonight, you see and hear these words a lot of christmas time. peace on earth. this year, they seem embassy. but not to elie wiesel. he has survived a nazi death camp and wrote about it. the nobel committee calls him a messenger to mankind. he recently shared his thoughts about piece with scott pelley. >> reporter: we have entered the season every year where peace on earth is fashionable again. i wonder what you think can be done to achieve that elusive goal. >> peace is something that cannot remain an abstraction. it must be practiced, created and recreated. war is ugly. only peace can be noble. i know we speak about heroism and heroism usually is a result of war. i believe in simple heroism. if you go into the street and see a woman who needs help and you help her. a child who needs a smile and you smile at the child, you put something in somebody's hand, that's a heroic gesture. sometimes, a handshake has the power of a pledge. >> reporter: and to someone who might say, look, i'm just an individual, world peace must be to someone else, you say what? >> this is our endeavor. it is our duty. it is our obligation. it is our fight. what does peace mean? the end of humiliation. that's actually the first end of the humiliation. humiliation should be one sin that should be discarded immediately. now let's stop. >> reporter: are you answer on are you an -- are you an optimist for peace in the world or pessimist. >> both. i had the right in 1945 to say enough. good-bye, humanity. good-bye world, good-bye society. i don't want to hear from you again. but we didn't. quite the opposite. and we came together to france, they all chose humanity, instead of anarchy, instead of denial. and then i believe that my generation can teach some others. >> elie wiesel with the message of piece. that is the cbs evening news. merry christmas and good night. i'm brian hackney in for aln martin. we' christmas storm. rain co >>> good evening and merry christmas. >> we are keeping an eye on our christmas storm, rain coming down all over the bay area tonight. a live look at the traffic on interstate 80 at university avenue in berkeley. >> and here is a live look at california's great america in santa clara where the second annual global winter wonderland kicked of a couple of hours ago. >> let's go right to cbs 5's paul dana. >> it's been lit up like a christmas tree so to speak. this is three hours of history right here. look at the rain fall here moving east towards sacramento and central valley and we are looking at the rain fall continuing for a while. here is a look at what we have going on right now with the live radar. we'll zoom into a couple of spots. we have a few breaks here, right over the city of san francisco. sitting over bait but not over the land mass. oakland, you are getting rainfall. lafayette, heavy rainfall for you, concord, pleasant hill. san ramon, alamo, we are getting a little bit of a break along 101 along santa rosa. a little bit of a break from the rainfall. computer forecast model predicting how much rain we see. another 346 inches of rainfall for those of you watching in pleasanton and san francisco, nearly an inch in san raphael. all of this rain really beginning to add up. i just added up the latest totals. sfo, we had more than 5 1/2. last december through christmas, 1.2. if you are a skier, you love. this another 8 to 16 inches of snow at our skiresorts in the
CNBC
Dec 26, 2012 6:00am EST
. it's a familiar one. the looming fiscal cliff. aides for both parties now saying a partial agreement or patch probably the most that we can be expecting before january 1. >> i think we're dealing now with whether or not we can put off the -- the increase in tax rates. that's really all we can deal with now. >> the next session of the senate is now set for tomorrow. the house has nothing on its schedule for this week. members have been told they could be called back within 48 hours' notice. meantime, and this i guess is also the big news, the white house saying the president's going to be flying back from vacation in hawaii today. a lot of people making something of that. i don't know what it means ultimately. >> well, one thing it means -- >> a show of something. >> if i had to get back from hawaii at a minute's notice, you know what it would be. the president will have an easier time of it, i think. right? >> i noticed a couple of news reports saying the cost of the last-minute flight is about $250 -- >> he's the president, he's allowed. he's not going to be like in -- you know, transferring in san francisco or l.a. or something. and hoping that flight isn't -- i think he can jus
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Dec 26, 2012 7:00am EST
the fiscal cliff. why should we be optimistic about america? often i hear from businessmen complain about dealing with obama. they love to do that. not only in complaining about obama but they say that america is losing. america is not losing. all the brains inside this thing which did not exist six years ago is really american brains. the software, the conceptualization. i know it's made in china or korea, but it's american innovation. the pieces are there. it's a matter of putting them together. the reason i'm so disappointed in this administration and the bush administration is because they have been willing to settle for so little. there's no reason this economy cannot grow at 6%. all the pieces are there. the gentleman in massachusetts emt would not. be broke all the not minimum wage is $7.50. i don't believe in the minimum wage, an ocean they can get somebody for $7.50 tells me america is not working the way contraptions like this say it should. -- the notion. guest: well, nobody really wants to go over the cliff when it comes to the military. president obama is in a box. he sees china for what
CNBC
Dec 26, 2012 9:00am EST
just written based off something the economist robert gordon said, that basically the last 200 years have been the exception. rick said the preceding 1,000 years, mankind went nowhere. we've had this great explosion. robert gordon posits that maybe we're returning to the previous stagnation. worth reading. >> thank you for spending three hours with us. >> thank you. >> i would think all the technical -- it's different this time. i know you've never heard that before. i have a very special announcement, once again. i want to say happy birthday to blake hernon, who is now officially a teenager. 13 years young. >> he'll be voting democratic in five years. >> absolutely. >> "squawk on the street" starts right now. happy birthday, blake. >>> good morning. welcome to "squawk on the street." hope you all had a good christmas. i'm melissa lee. we're live from the new york stock exchange. jim cramer has the day off. the latest s&p schiller home price report has been released. the results being shown at the bottom of your screen. david blitzer will join us with a closer look at the numbers in just a few minutes. let's get a check on how we're setting up on this day after christmas trading session. the dow looking higher by about 15 points. s&p looking at about two points at the open. european markets closed on this day after christmas. the uk and france among those celebrating foxing day. we start off with, what else, retail. dips in spending in the mid-atlantic and northeast regions. luxury sales also weak. >> we're coming off the worst christmas eve for the dow since 2006. as the president cuts short his hawaiian vacation to deal with the fiscal cliff, just five days to go until we go over. >> threatening both coasts with workers snubbing up best and final contract offer. >> and more on the home front. we'll have more on the data and whether it can keep one of the best performing sectors of 2012, home builders going in 2013. >> data showing what some experts say is the slowest growth in spending since the 2008 recession. according to mastercard, spending polls units through christmas eve, retail sales rose just .7% from the year before. the national retail federation says it is forecasting a 4% jump in sales. we'll continue to get trickles of data as we progress through this last week. it is still an important week, the final week before the new year in terms of retail sales for these guys. >> historically positive the last five days of the year and blends into the first couple of days of the new year. generally get a nice year-end effect. we'll get claims tomorrow. new home sales tomorrow. chicago pmi on friday. but this idea that retail is soft, was it the fiscal cliff? was it sandy? was it some sentiment that came out of the newtown tragedy? it's hard to say. >> but it may be a combination of all of those. we got a sense from the guests we brought on earlier this week, on monday, that it was not a great holiday selling season, as we ended the last day before christmas. and all those may be the reasons, carl. i'm positive i didn't think people really understood the fiscal cliff. i may have been wrong. perhaps it was something that weighed on people's minds. the weather always at issue. it could actually have been warmer weather as well that contributed. we've had some analysts say that because people don't feel they have to go out and buy a coat. >> because it will never get cold again. >> except today, when it's 28 degrees. we'll see how after christmas does. internet also, it doesn't appear as online sales are up as p as anticipated. and perhaps they made up for the loss of the brick and mortar. >> you were pointing out before the show, luxury was not immune to this. you would think it would be more in tune to the consequences a cliff. >> you can take a look at the mid-atlantic and northeast regions, those regions account for 24% of national retail sales. within luxury, a big portion of that 20% is in the heast region. and so when you have that sort of double whammy, sandy, newtown shootings, fiscal cliff, all these things can combine to depress shoppers' appetite to spend at this point. >> we'll talk a lot more over the next couple of hours where the discounts really came. there's a lot of talk about walmart and gap, and macy's and target. and then what that's going to meet as they try to clear out all this inventory, really starting today, going into the first part of the new year. those things have to get off the shelves. and that's going to affect margins one way or the other. >> let's bring in jackie deangelo, crunching the numbers back at headquarters. >> i'm going to recap what you said a little bit earlier. according to mastercard's spending poll, the few weeks leading up to christmas rose only .7%. a pretty big miss there. to give you perspective, after a drop of 5.5% in 2008, holiday sales have seen a steady rebound since then, including a 2% increase last year. this less than 1% figure, bound to be disappointing. online shopping also showed some muted results. spending polls show web sales were up 8.4% from last year, but that number doesn't stack up to the double digit growth we've seen in that segment over the last few years. what's to blame for the dismal holiday sales? hurricane sandy was definitely one factor. experts say shoppers in the northeast probably bought less and used their money for storm repairs, then, of course, there's the uncertainty created by the fiscal cliff. >> they took the psychological factor into the mix. you know, at first it didn't look like it did. but consumers respond two weeks before a deadline happens. it's like they didn't get caught up in it during the thanksgiving rush, they got caught up in it at the very end, when it hurt most. >> nothing like a pending tax hike to take the wind out of your holiday shopping sails. don't forget, we've got a few days after christmas here where these are still in play. consumers are going to use those gift cards when they head out to make returns. of course, remember, those revenues are booked when the gift cards are redeemed, not when they were purchased. and there's a chance you're out returning things, that maybe you'll spend a little bit more. we'll watch the next few days closely as well. guys, back over to you. >> jackie, early morning already. thanks for sticking around. so who were the retail winners and losers this holiday season? rick beamer is the founder of the america research group, a leading consumer behavior and marketing firm. good morning. >> good morning. thank you very much for having me. merry christmas. >> same to you. we're tossing around all these theories. this is a significant mist here. what's to blame? >> let me cover your point that you just mentioned. number one, only 8.5 consumers said that the fiscal cliff impacted their sales negatively. only 45% of consumers are even following it. now, sandy was another issue. 16% of consumers in the northeast said that sandy impacted them. so that is a significant fark tor. the other issue is, luxury was impacted because this year corporate america held fewer christmas parties than in the past, because they didn't want to be able to broadcast their largess and all their activities. keep in mind, 40% of retailers driven by the corporate christmas parties, when they were cut back, it affected the shoppers who were buying the holiday dresses and jewelry. >> so is this -- i mean, if you're looking for the true source of pain here, brit, in the trade, is it discounters? is it luxury? where are we going to notice this miss the most? >> well, what happened this year is, before the season started, 74% of consumers said they were redig to avoid their credit cards as much as possible. so when you look at the winners this christmas, you look at walmart, you look at sam's, you look at big lots, you look at amazon, and look at the people that really did well this christmas, you know, and dollar tree, think about that. you've got a discount store, warehouse club, dollar store, and amazon, those are the five big winners. they kept over 75% of their customers at home. on the other hand, those retailers that lost, which were the barnes & nobles, and bjs, costco, the gap, retailers like that, and lowe's, those retailers did not do a good job. keep in mind, someone like costco, which is now expanding their business model into the business community and small businesses, they can give up some consumer business and do very well. but look at the troubles that barnes & nobles and bj's has, they lost over half their customers. >> i'm a consumer at home, it's the day after christmas and i'm thinking, are there going to be great deals. because of the weak data we've seen so far through christmas eve, can we then extrapolate that the stores are now going to be more pressed to mark down items in order to move them into the new year? >> i wish i could say that. when i looked at the ads in the sunday newspaper where i live here in orlando, there was nobody cutting prices dramatically. here's the problem, retailers at this level are publicly held. they're much more concerned about wall street than main street, more concerned about their earnings than sales. what happens is, nobody really changes their advertising plan. so what they're doing is following this and they're going to adjust in january. if sales are not good in december, they've still got january clearance to wipe the slate clean. here's one of the issues. they've got to be able to keep those stores empty, so when president's weekend comes, when they put the spring merchandise out there, because they want to have their spring merchandise on display. >> that's not far off. rude awakening this morning. appreciate your time very much. thanks. >> thank you so much. merry christmas. >> same to you. on to the fiscal cliff this morning. the president cutting his vacation short in hawaii. the president plans to leave for washington tonight. congress expected to return on thursday. president, guys, not expected to actually arrive in washington until tomorrow morning. no talks scheduled that we know of as of yet. all the attention's going to turn to the senate, which tends to be more of a compromising body than the house is. >> yes. and the president is available in person if you should want to go over there and visit with him. or perhaps if he wants to visit with anybody else. the consensus seems to be if you get some sort of a deal, it's obviously not going to be the big deal. it will simply be something that extends the tax cuts for the vast majority of americans, at least those earning less than $250,000 a year. the consensus seems to be, carl, that if we don't get a deal by the second or third or fourth week, the super bowl week, we'll start to feel it in the economy. >> we had a notable sell-off. there is typically a bias on christmas eve, but the worst christmas eve performance for the dow since 2006 because of the jitters about the fiscal cliff. it will be an interesting few days as congress starts to reconvene. and also as corporate america is taking up this fight as well. ceo howard schulze of starbucks urging workers at 120 washington area stores to start writing on their coffee cups, come together. >> are you serious? >> yes. yes. >> that should help. i think that's going to do it. >> problem solved. >> between that, and the pins. >> i never thought of that. >> can you imagine -- oh, good idea, howard schulze. but he says we deserve better. >> we probably do. >> he's right. >> a lot of them are still on vacation. house members have been told there's nothing scheduled for this week. but you could be called back with 48 hours' notice. so, in a perfect world, things could possibly come together. >> 48 hours' notice and we have five days to go. >> i'm not saying we're not cutting it awfully close, but that's where things stand as of right now. >> new new housing data out tod home prices rose 4.3% in the 12 months ending in october in a 20-city composite, beating analysts' forecasts. it did appear as 12 of the 20 cities in both composites posted monthly declines in october. david blitzer will join us in just a few minutes to go over this data. bottom line here, better than expected. maybe this is enough to keep this sector going. a very strong sector in consumer discretionary overall. home builders have really been a double in 2012. >> it wasn't until the second half of this word that you started hearing the words housing and gdp growth in the same sentence. perhaps the most significant part of the economy for so much of the early parts of the 2000s. we'll see. they do call it a sustained recovery. that is, s&p-case schiller, and the recovery continues to gather strength. >> the best performing sector, though, financials. >> financials, yeah. >> 26% on financials. utilities the only one lower for the year. nine out of ten s&p sectors higher. that doesn't happen a whole lot. >> no. >> when we come back, christmas day may be over, but we've still got blitzer. s&p's david blitzer breaks down the winners and losers. also, facebook's rally sign of things to come? stick around for predictions. kind of choppy today, as the markets watching for any sign of progress as the president comes back to washington. a lot more "squawk on the street" in just a moment. >>> let's get back to the key housing data out this morning. home prices rose 4.3%, after the 12 months that ended in october. that was ahead of what analysts had been forecasting. here first on cnbc is david blitzer, chairman of the s&p 500 index committee. david, you talk about a sustained recovery in housing, of course. month-to-month, september to october don't look as impressive as year over year. >> i think recovery is sustaining itself in the third quarter. housing added the gdp. every reason to believe that will continue in the fourth quarter, and into next year. as you point out, the month-to-month figures look a bit weaker, strictly because of the seasonal housing patterns. winter tends to be a slow period. the seasonably adjusted numbers from september and october, october was actually a good deal better than september. >> a lot of the markets that saw the biggest busts are now seeing, i don't want to call it a boom, but certainly significant price increases, aren't they? >> without a doubt. phoenix has got 13 consecutive months of rising prices. it's up over 20% over the last 12 months. las vegas, i think, was up about 2.8% this month. so there is a lot of strength in some of the previously horrendously weak spots. southern california is another area that had been hard hit. it definitely rebounded. >> at the same time, david, some of the cities that had, you know, fair to best during the downturn are now showing some weakness, chicago and new york, the only two cities with negative returns in the month of october. what's going on in those two markets? >> well, i think the first thing to recognize is what you pointed out. they didn't have the incredible boom going on. so they've been a lot more classic. those are markets where i think there are some other concerns related to local economic base. new york is highly dependent on financial services. and financial services, despite the stock market, have not been doing as well as they might. and have seen a lot of slowness. and rumors of layoffs. so there are areas that are a bit weak. even with those, i think on a national basis housing continues to be very solid. >> would you anticipate, david, seeing any sort of impact in sort of a higher income areas, in states, california, the northeast, because of the fiscal cliff? do you think that's going to show up eventually in the data? >> actually, i think the bigger thing that's likely to show up, especially in the new york metro area, is really a question of what seasonal bonuses look like. traditional issue for new york city area has always been how good the bonuses are, if they're real good people go out and buy slightly bigger houses than they had expected to previously. i think that's a bigger item than the fiscal cliff. the long-term question about taxes is clearly the mortgage deduction. given they haven't even got to the headline items for the fiscal cliff, they won't get to the mortgage deduction for a few weeks, if not longer. >> finally, david, shadow inventory. we hear a lot about it, talk a lot about it. it doesn't seem to be the concern some anticipated, at least when we go back to 2012, 2011 to current. >> to some extent on a national basis, i think the shadow inventory story is a little bit overdone. i think it's gradually being worked off. foreclosures have been -- or the number of homes in foreclosure have been declining in the last several months and i think are likely to continue to decline. localized areas it can be a big problem, but nationally, i think it's a little bit overdone and a bit overstated. >> david, we're going to leave it there. david blitzer, s&p's managing director of the s&p 500 index committee. >> thank you. >> who will be celebrating the day after christmas? the bulls or the bears? the traders' take ahead of the opening bell. a port strike is looming. we'll ask retail federation matthew shay about the billions of dollars that could be at stake. plus, what he thinks of the holiday retail numbers. let's look at the futures as we head to the opening. 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[ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ >>> you're watching "squawk on the street." the opening bell ringing here on wall street. take a look at the podium. the new york national guard doing the honors hee today. we welcome them to the new york stock exchange. the u.s. marine corps providing toys for less fortunate children for the holiday season. another good cause there. stocks opening up for the first day after the christmas holiday. most major stock markets around the world were closed for christmas, and for the day after christm christmas. china, five-month high on the notion that the urbanization plan will gain spurs in the housing stocks there. japan, abe confirmed as prime minister there. the seventh prime minister in the past six years. we did see the yen hit a 20-month low against the u.s. dollar. notable lows against the euro as well. the topics in the nikkai the lowest in nine months. >> going back to his old job, that he had back in 2007. strange in and of itself. i wonder how long it will take for people to start talking about netflix after the outage going into christmas eve on social media. they were calling it no flix. and to blame amazon web services, which is one of their huge growth engines. a unit of the company they say is probably a tenth of its eventual size. >> one of the highest growth parts of amazon right now, the web services portion. their amazon is down 1.25%. i don't know if that's the reason. but it was the streaming center in northern virginia that was the source of the netflix outage. it's resolved, though, as far as we know. we don't know what sort of impacting -- >> i waste a vin't a victim, bu sure a lot of families get together to watch something on christmas eve. that's the point, get ready for peak demand. >> it is. this is not the first time that that amazon has had some issues. we'll see. your point is well taken. of course, another part of the growth leg, important part of the growth part of the amazon story. as for netflix, we're watching that stock down ever so slightly, half of 1%. it's had an enormous run over the last few weeks since it signed that deal with disney, a deal that in many ways converted legitimacy among those making decisions in the media sector. score that one a win. >> definitely. we mentioned the rally in china on this notion that urbanization will help there. when you think of china gaining, and making notable gains, you automatically go to the copper stocks, mining stocks here. that's what we're seeing play out in today's session. these are clear outperformers compared to the pretty much flat line that we're seeing across the markets here. >> take a look at some retail names as well. mace yy's in the red. jcpenney, kohl's, hanging on. striking how this mastercard figure of .7 versus an estimate of 3 to 4, which is basically for the whole season, it's not this weekend, it's not the past week, it is from late october until basically today, comes as a bit of a surprise. i was listening to talk radio on my way in to work, and it said the holiday season is a bust. i wonder if that will play on consumer psychology. >> we saw consumer sentiment the lowest level in five months. maybe not so much a surprise that there is a little bit of a damper on the holiday season. keep in mind that the last week of december is 15% of sales, too. for the retailers. so this could be a big catch-up week in theory, the last week. we'll see. i don't know if it will play out or the weak sales up to this date will then carry over into this last week. >> we had seen early signs, consumer confidence numbers have been coming down, five-month low. we'll see how much of this gets reaffirmed in the data that is still to come. as we said earlier, there is more of it on the way over the next couple of days. toyota's got a pretty optimistic forecast for 2013, looking for growth of about 2%. that would be record sales in large part because of sales in this country. >> north america. that has been -- again, when we talk about this year, which we're going to start to do in earnest over the next few days, we certainly will look at the rebound in auto sales and housing as two key parts of why, at least, there's some -- or a good deal of positive thinking, albeit not including the cliff, when you talk about 2013. >> but if you take a look at the toyota chart from mid-november until now, i mean, really rising in anticipation of abe becoming prime minister, and coming in and enabling policy measures that would stimulate the economy. and weakening the yen. here we have the run-up, even though we don't see the optimism reflected in today's price action. one more stock we want to hit, herbalife, up 3.5%. they hired some interesting advisers. >> yeah. this was out on monday, actually, during our show. a well-known investment bank, a guest on this show not very long ago. certainly very credible name. we'll see what they come up with at the january 10th meeting. that's more important than what the company has to say to combat what has been a fierce campaign by mr. ackman. >> they also hired shiller, the law firm. not clear why they would hire a law firm at this point. no reason given. they have hired them, which is another, hmm, wonder what they're up to kind of move. bob pisani is on the floor with what's moving today. >> we're up 24 points in the dow. and a lot of people think a grand bargain is impossible at this point. but president obama coming back from vacation in hawaii. that's an indication that some kind of deal -- however small -- is definitely coming. i want to point out, and i know you've been negative on this mastercard data on retail sales, and everybody thinks it's going to be a mess for the holiday season. i want to point out that the stocks are not acting that way. that this is a disaster for the season. the s&p retail index hit an historic high on december 3rd. historic high. since then, it has only been down about 3%. these stocks are not acting like there's a disaster. i can give you several reasons why they're not down so far. number one, we are going to see eps growth in the fourth quarter from some of them because of the extra week that there is. number two, we've had much lower cotton costs this year. their overall costs are lower. that's helping their earnings. number three, inventory levels are much lower. and that's going to help their gross margins. number four, we had pretty good gdp numbers in q-3. number five, home prices are improving. and number six, we never mentioned what gasoline costs drop, we only talk about when they go up. that's been a major factor as well. my bottom line is, do not throw out the retail stocks yet. and nobody is. we have only heard from mastercard. i want to hear from what the retailers actually have to say after next week is over. second, other big story today is the continuing yen/dollar/euro data. abe is elected, now he's in power. the bank of japan is going to be meeting january 21 and 22. they're going to raise their inflation target 2%. the yen is at 85 right now. a lot of people are betting it could go to 100. that trade is not yet over. so that is the hot trade that's out there globally right now. number three, i'm pretty optimistic on housing. you saw the numbers on case-shiller, 4.3% increase in october. we're still getting numbers continuing to improve. the levels of affordability are great. mortgage rates remain low. this is one of the bright spots for housing, and will be for the economy in 2013. finally, did you see this amusing story? u.s. government is put on a negative watch by china? by china? the credit rating agency in china put them on the u.s. government debt on a negative rating at this point. negative watch. this, of course, was supposedly independent rating agency created in china to try to rival moody's and s&p and fitch's. that's getting interesting play out there. their independence, of course, greatly in question. guys, back to you. >> bob, get a lozenge, will you? >> sorry about that. >> let's head to the pits. good morning, rick. >> good morning, melissa lee. well, no surprise we're still hovering in the 170s in the ten-year. but maybe something interesting. you know, on the floor we call it the growth dividend. if you look at a chart for our ten-year starting on july 26th, and i pick july 26th because that was mario draghi's big day. he said anything it takes. as you look at our rates over that period, then look at the boon rates over that period. you can see that the growth/disparity, our yields are higher in that formation than boon yields, because even though funding issues have been largely contained since that july 26th day, we can still see that the prospects for growth may be reflected in these charts, as the prospects for growth are larger in the u.s., fiscal cliffs issues would make it larger. foreign exchange, mainly everybody on this post-holiday, light volume session, seems to have one eye on the yen. whether it's against the u.s. currency, the dollar/yen or euro/yen. both patterns look more aggressive on the dollar side. obviously abe as prime minister is going to bring along with him the largest printing press we can remember recently. and that, of course, will start a chain reaction and maybe other printing presses will run a little faster and a little longer. back to you. >> all right. rick, thanks so much. talk to you a little bit later on. we'll check out the latest moves in commodities as well. we go to bertha coombs over at the nymex. >> material stocks are leading as far as stocks, and they're following the materials here. we've got oil this morning, wti nymex above 91, just a few minutes ago, after that case-shiller outlook. despite the fact we had that sort of downbeat report on consumers and spending over the holidays. there is a bit of an animal spirit looking ahead to the fact that the folks in washington are coming back, and making a last-ditch effort to avoid that fiscal cliff, so-called $600 billion in tax hikes, and cuts due on january 31st. meantime, we are getting those reports out of china, that china may start to rebuild. as melissa noted, copper, one of the big beneficiaries today. interestingly, the journal had a report that the s.e.c. has delayed the requests to start a new copper etf, which would be a large buyer of copper. that has been delayed until later in 2013, as far as approvals. nonetheless, we've got a fairly buoyant move to the upside this morning. david, back to you. >> thanks very much, bertha coombs. we want to visit a topic, sort of a year-end topic. what we can expect particularly when it comes to the lack of leverage buyouts. we talked a number of times about it this year with other guests as well, that talked about the merger and acquisition environment. it is a glaring lack of activity. i don't want to make too much of it, take a look. you can see how they've done this year. in line with 2010. up ever so slightly from 2011. remember, we have record low borrowing rates in the high yield market, not to mention from banks as well. leverage ratios have crept up, so you can get debt that equals 5.5, or 6, or even more times the company you're acquiring. all of that would argue for more activity on the part of the leverage buyers. we've had jim woolery at jpmorgan saying, yeah, i can cut you a $10 million check. we haven't seen the big deals. one reason, simply put, flow begets flow. when there's a lot of activity, you get even more. there is a company looking to be shed of this business, or achoirs another business, they may look to shed another business as well. that might be an audience that private equity is part of. when you aren't having that level of activity, you may not get even more from the lbo. but something we've run up against lately does seem to be a difference in perception in terms of bid and ask, for companies that are thinking they want to sell themselves to a potentially private equity audience, only to find out their price expectations are not there. we've seen that in the market over the last few weeks, and months. consider the case of mbrx, you saw that stock fall rather drastically, even after most of the market knew this was not going to be a sale. what i've heard from bankers there, and the case in a number of other situations, is simply put, yes, private equity was there at a price. but that price was far below the price that management thought it might be able to obtain if and when it put itself up for sale. a number of months ago, i told you about advanced auto, hired an investment bank, looking for buyers. in fact, there was conversation that took place, of course. but at the end of the day, while the private equity guys were looking to finance a deal in the mid-'80s, aap was looking for a deal in the low 90s. is it possible for these price expectations will sort of harden around the price? that has been the case in a number of deals. this is reuters reporting, sds, the strategic was there to potentially top this from private equity, again, that we're far lower than some had been looking for. that stock falling, reuters reporting, sbx is no longer interested. we'll keep a close eye on lbos as we move into 2013. perhaps the private equity guys, despite having all that money in their funds, are not quite as optimistic as some managements are for the future. >> all right. facebook shares looking to finish out the year with a bang. will the social network surge in 2013. the big reasons people hit the mall on the day after christmas to redeem gith cards and return those unwanted presents. a blessing and curse for retailers. that is coming up. >>> after a year of market growing pains, social media heading into 2013 with a strong start. julia boorstin with her predictions for the new year. >> it's all business for social media in 2013. facebook will rev up mobile apps, creating an ad network to take on google and look for new revenue in search and apps. >> building on gifts, facebook will create new ecommerce options and focus on selling more digital content. expanding beyond the partnership with apple's itunes, adding more music, tv shows and movies. look for twitter to file for an ipo by the end of the year. in the meantime, they'll grow revenue through new ad products and tools for marketers. plus, it will try to add users by creating an easy news feed for those only interested in following and not tweeting. and as twitter competes with facebook for advertising, expect more twitter/facebook spats. 2013 will be the year of social ecommerce. even the most traditional retailers will add likes, pins and tweets into websites. and pinterest will embrace online sales. while deal a today sites like group-on and living social will diversify into a range of social mobile shopping options. but there are likely to save themselves, more likely to be acquired. >> of course, we're watching -- what? >> i was going to say, we'll see where social goes. talking about going to the moon and back. starting with group-on and a bunch of other names that have gone public in the last couple of years. >> the privacy issues, there's a lot of interesting things that will continue to resurface in 2013. >> i think sometimes we forget social when it applies to travel, for example. trip adviser, which one would argue is social, there's been great success, the stock price moving up because so many of the other competitors that are vaguely social, expedia and the like moving up sharply. >> we're keeping our eye on the weather. strange weather. huge storm, in fact, dumping snow and sleet in the midwest and causing tornadoes in the south. now making its way toward the northeast. dave is live in fishers, indiana, with the latest. dave? >> melissa, i almost feel like saying, happy boxing day. because it sure feels like canada here, just north of indianapolis, with the winds picking up to about almost 30 miles an hour right now. i'm going to step back, so you can see what the visibility is like. and you can imagine what that's doing to the truck travel on the road, trying to get the goods out of here. and the airport is basically getting lots and lots of cancellations right now. talking upwards of 60 cancellations. see how you can barely see me through here? because the wind is really whipping up that snow as it hits the ground. we're expecting about 6 to 12 inches by the end of the day. the snow is not going to stop until 9:00 p.m. all those people who got gift cards in their stocking yesterday, well, they're not going to be able to spend them here, because one of the major malls is closing here in indianapolis. and this is not just a story about this one city, because the storm is cutting an 800-mile swath throughout the midwest. we're talking all the way from illinois, up to ohio, into new york. so this is a very big storm. and on the other end of it, we're going to have another one come in through new year's eve. so we're talking about a triple hit. the one that hit last week, this one, and the next one that's coming up. let's go back to carl. >> all right. dave, thank you very much for that. dave malkoff from the weather channel. we're p bank of america is a standout in an upbeat year for the financials. the question is, does the rally continue in 2013. we'll get predictions coming up. and since election day, the markets have been fighting worries over the fiscal cliff. in the meantime, we'll take a short break. back in a minute. >>> we are glad to welcome back simon hobbs to the program. he's going to tell us what's coming up at 10:00. >> always good to be back, carl. welcome, everybody. we're going to talk particularly about retail. do we have a problem in retail, and what exactly is it. the ceo of the national retail federation will join us live. we're going to break down specifically whether it's the sandy effect or luxury goods effect. one you might want to sell on. the other thing we talk about is house prices. clearly this morning up over 4% year over year, in the top 20 cities. when will the jobs come back in construction. will that be the major theme for 2013. back to you. >> simon, see you in a couple. the dating scene is hitting a fiscal cliff of its own. an article in the noew york tims may not matter if your credit score is less than attractive. the "times" interviewed more than 50 daters around the u.s. all under 40 years old. what is the most important financial question to ask on a first date? tweet us @squawk street. we've got your responses throughout the morning. looking forward to what people have to say to that one. should be interesting. >> first date i tended not to bring up financials in general. >> kind of dangerous topics. >> do you have any brothers or sisters? what was your major in college, right? >> right. >> what are your interests? >> yeah. >> what kind of food would you like to order? can i give you a few drinks? >> what are you doing later on? >> that's a different world, guys. >> when we come back, national retail federation ceo matthew shay, is he satisfied with how his industry fared this holiday shopping season and what could a potential port strike do to the sector. can you count on the rally can you count on the rally continuing in 2013. >>> welcome back to "squawk on the street." hope you are having, or had a wonderful holiday. let's get to the road map for the next hour. the real story on retail this morning, the early data for holiday spending has come in below expectations. we'll get reaction from the ceo of the national retail federation. plus we'll find out how a potential port strike could cost the economy billions of dollars. it's the first on cnbc interview. >> lawmakers have five days left to get a deal in place to avoid the fiscal cliff. starbucks is even trying to help congressional leaders come together. >> new data on housing out in the last hour, showing home prices are on the rise. will the momentum continue into the new year. we've got someone to lay out the key indicators for investors to watch. >> we kick things off with retail and disappointing holiday sales, according to mastercard spending poll. .7% from a year ago. here is matthew shay, president and ceo of the national retail federation. matthew, great to have you with us. >> good morning. >> i'm wondering, is it shaping up to be as bad as spending poll data is making it out to be? >> i think to paraphrase, mr. twain, the reports of the holiday season's demise have been greatly exaggerated. you've been talking all morning how much more spending is left in the season. this is an important day at the beginning of a very important week for the retail industry. we recognize that people are going to have different assessments of how well the season went. we're still pretty optimistic it's going to be a solid year. and we know we'll have year over year growth. the last time the numbers were as low as these guys are saying they were, was christmas of 2008. and we all remember what was going on in the fall of 2008. so we don't think we're going to see numbers like that when this is all said and done. but we're going to hold off until january until we get the final numbers in and make a final assess
FOX News
Dec 26, 2012 6:00am PST
to quickly vote to pass legislation to avoid the fiscal cliff, if, he and the speaker are able to make a deal before it's too late. gregg: we'll be holding our breath. peter doocy, thanks. >> reporter: yeah. patti ann: the commander-in-chief also spent part of his holiday thanking the troops on a visit to a hawaiian military base. the president and first lady paying tribute to those here and abroad who risk their lives keeping us safe. he took time to honor their families as well. >> so many of you make sacrifices day in, day out on behalf of our freedom, on behalf of our security, and not only do those in uniform make sacrifices but i think everybody here understands the sacrifices that families make each and every day as well. and michelle --. patti ann: the president also made a series of holiday phone calls monday night thanking members of the armed forces around the globe. >>> shoppers are going to be making tough decisions today. many preparing to return unwanted holiday gifts. retailers suggest patience if you plan to hit the stores today. they are expecting a very busy day of returns and exc
FOX Business
Dec 26, 2012 11:00am EST
retailers worry if not marion stores making up by cutting prices now. shiboni: the fiscal cliff years getting much of the blame for christmas shopping spirits. president obama cutting short his vacation with time running out for a deal. chris: one bright spot in this negativity, housing. home prices up in most major cities. shiboni: top of the hour. stocks every 15 minutes. nicole petallides on the floor of the stock exchange. wall street also souring on a mention of this deal . carolyn: on the tour before the with half-day of trading, stock market closed at 1:00 eastern time. it was quite evident, let's call a spade a spade, up one day before christmas they're not doing anything. certainly doesn't look like they will get done quickly and even proposed it may move right into the middle of january and figure out a way to extend and get that done at that point. the fiscal cliff remains, the woes remain, the worry and uncertainty remain on wall street which makes it hard for wall street to take off. it leave the wild card and that is not a good thing for the stock market. today is a lighter day of trading. we have a long weekend, the first is another day off. the dow jones industrials are 13,106 so dropped 0.4% and can be nas
MSNBC
Dec 26, 2012 1:00pm PST
is cutting short his christmas break with the fiscal cliff looming large. >> the fiscal cliff gets closer. congress now has six days left to make a deal. >> aloha, hawaii. >> to my republican colleagues, the ronald reagan model is if you get 80% of what you want, that's a pretty good day. >> they were this close. they were this close to a solution. >> he's going to get tax rate hikes. >> are we going over the cliff? >> i believe we are. >> be republican and be conservative and pass a bill that cuts tax. >> boehner has no control over his extreme right wing faction. >> should anybody's taxes be raised at this point? answer yes or no. >> no. no. ♪ >> we begin as president obama and the senate head back to washington set for one last effort to avert the first fiscal cliff. aloha means good-bye for the president as he packs bound for the white house tonight. the president cutting short his vacation leaving michelle and the girls behind as he gets back to work to try to prevent tax increases and spending cuts due to begin next week. there's just one problem. it appears there would be no house republicans to help hammer out a deal. the gop leadersh
CNBC
Dec 26, 2012 2:00pm EST
month. of course we now have to deal with the fiscal cliff. also, the nasdaq is the percentage winner with a gain of 15% this year. which, by the way, is exactly the same as australia's asx. >> two minutes into the show, already an australia reference. shameless. >> shameless. >>> all right. could be a humbug christmas for retailers this year. the market today saying that things look a little more naughty than nice for many of the names. i want to look at the wall behind me because these are a bunch of red names, right? the bottom performers in the s & p 500 today, most of them are retail. look at that. coach, the single worst performer in the s & p 500 today. you've got ralph lauren, amazon, abercrombie & fitch, tiffany, the gap. fossil. urban outfitters. the limited. look at that. macy's on that name as well. many of the worst performers today are the retailers, perhaps on the back of that mastercard survey that we referenced earlier. by the way, though, as our long-lost friend herb greenberg might say, the biggest gaining retail stock today, yes, my friends, jcpenney. it is
MSNBC
Dec 26, 2012 10:00am PST
. >>> let's shift back to the fiscal cliff and the art of the possible with one of the lawmakers that will have to pass a vote if a deal is consummated, kay bailey hutchison, member of the appropriations committee and republican from texas, she joins me now. thanks so much for being on the program. >> thank you, luke. >> so we know now the ball is in the senate's court, emphasis is now on harry reid and mitch mcconnell. seems the house is not in session. johnny isakson, your colleague from georgia said congress should pass the $250,000 and below deal because that's what's going to happen afterwards. do you think that should happen? >> i do not. i think $250,000 is too low a threshold. a lot of working people who are couples would exceed that. however, i talked to some of my democratic colleagues and they are saying maybe in the $400,000 or $500,000 category we could set a benchmark. i do think it is essential that we start talking about what amount can be passed on a bipartisan basis, because, you know, i'm one who believes you shouldn't tax anyone right now. i would have supported plan b. i think that we've got to come t
PBS
Dec 26, 2012 3:00pm PST
treatment. >> warner: as congress comes back to washington to resume fiscal cliff negotiations, we ask, what happens if they don't reach a deal? >> ifill: we talk with a representative of egypt's muslim brotherhood about the new brotherhood-backed constitution signed into law today. >> warner: and we have another of our conversations with retiring members of congress. paul solman sat down with the always outspoken massachusetts democrat barney frank. >> the notion that people would not go along with an important public policy because i hurt their feelings, i don't think that's true. >> ifill: that's all ahead on tonight's "newshour." >> major funding for the pbs newshour has been provided by: >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> ifill: a major winter storm surged into the midwest and northeast, fouling flight schedules and ruining road conditions on this day after christmas. the huge weather system left a trail of destruction in the gulf coas
CNN
Dec 26, 2012 1:00pm PST
a deal done on the fiscal cliff before the end of the year. and i wasn't very surprised because howard schultz has been very outspoken. we sat down earlier this month to talk about the fiscal cliff and the risks to u.s. businesses, to the world economy and to the average u.s. citizen if we don't have a deal, if we don't get it done. i want you to take a listen to what he fold me. >> the real difference today versus perhaps any other time in history is that this single issue has a seismic effect on the rest of the world, that we have never been as connected and the domino effect of a bad outcome here will have significant negative consequences domestically and around the world. not the least of which will be the level -- fracturing of confidence in the united states of america. >> seismic and significant. very powerful words. how could this play out for americans if we don't have a deal? what will that feel like to them, howard? >> i think there will be tremendous personal pressure on people who are going to see their daily lives affected in ways that are hard to fathom, hard to
MSNBC
Dec 26, 2012 2:00am PST
before returning to capitol hill tomorrow for one more day of solving the fiscal cliff before the new year. and president obama has cut his vacation one day short and heading back today. does it still look doable? >> there is hope for a deal but confidence in that grand bargain has already but disappeared. >> reporter: americans are already taking a hard look at their wallets as confidence in the fiscal cliff diminishes. >> i don't think there is a grand bargain but hope a deal will be cut. >> reporter: if congress doesn't change tax cuts in day, middle income earners will owe extra by the end of the year and they will cut back on auto industry, apparel and entertainment. >> once they cut back on that, that will be dramatic. >> reporter: retailers support 1 in 4 american jobs and if the downturn intensifies, those jobs are at risk. >> if retailers stop creating jobs, the economy as a whole stops creating jobs. >> reporter: the weight is excruciating for some and president obama left them $200 billion apart. >> the president was $200 billion higher on revenues and speaker boehner, $200 billion higher on spending cuts. >> if you get 80% of what you want, that's a pretty good day. >> reporter: tough decisions ahead, six days lef
NBC
Dec 26, 2012 9:00am EST
attach a farm bill to the fiscal cliff legislation if a deal can be reached in time. >>> newtown, connecticut, police in neighboring communities filled in for newtown officers so they could all have the day off to spend christmas with their families. >>> school shootings, bad weather and threat of tax increases in january all helped to slow holiday shopping after a pretty fast start on black friday. mastercard advisers say before christmas, shopping increased seven-tenths of 1% from a year ago. retailers are hoping to make up for that today. >>> do you ever wonder how santa prepares for the weather? apparently he prepares by jumping into cold weather. how santa cools off after a grueling christmas eve of delivering presents. looks so refreshing and relaxing. that is the new. now back over to savannah, willie and maria. there you are. >> it's very refreshing, right? looks very refresh iing. cold air is in place and big snow heading up toward the ohio valley. that's the big weather story for today, along with that the chance for some very gusty winds, gusting to 40, 50 miles per ho
NBC
Dec 26, 2012 6:30pm EST
chicago for us. thank you. >>> and it is the dreaded fiscal cliff that has the president heading home early tonight from his hawaiian christmas vacation. as some lawmakers are also heading back to washington. but with just six days to go, homes for a last-minute deal may be fading. nbc's kristin welker is with us tonight from honolulu. kristen. >> reporter: natalie, good evening. with president obama flying home this evening, the political rhetoric has already started, with republicans urging action in the senate, and with democrats calling on republicans to put middle class families first. the president and first lady spent part of their christmas visiting troops in honolulu. >> we want to say thank you. we love you. >> reporter: but now he heads back to a snowy washington, where the last hope for a deal to avert the fiscal cliff is the senate, which returns tomorrow. majority leader harry reid is devising a partial solution that could ease economic fears. >> if we go over in a chaotic fashion, where members of congress are deeply grid locked with no sign of coming together, then we're likely to go over and stay over. and that's very problematic. >> reporter: going over the cliff would restore higher bush era tax rates and trigger deep spending cuts
CBS
Dec 26, 2012 12:00pm PST
and members of congress are trying to find a way to avert the so-called "fiscal cliff." lawmakers will also be back in session on thursday without a deal by the end of the year automatic spending cuts and tax increases going into effect. >>> starbucks is trying to do what it can to urge a "fiscal cliff" compromise. the coffee chain is asking employees at its cafes in the d.c. area to write the words "come together" on cups for the next two days. starbucks plans to continue the effort on social media. >>> encouraging signs in the housing market. home prices rose in most major cities in october up more than 4% from a year earlier and october was the fifth straight month of year-over-year gains. taking a look at the big board now, you can see that stocks are down today in a light trading session. you can see the dow is down about 9 points. >>> a bay area family and the season of giving. how the kindness of strangers helped save a family's injured dog. ,,,,,,,,,,,,,, donors for saving their dog. c-b-s-5 reporter christin ay >>> a you can bay area couple is thanking -- a young bay area couple is thanking anonymous donors for saving their dog.
FOX Business
Dec 26, 2012 3:00pm EST
gains and losses. we have five days left before the fiscal cliff. washington preparing for another round of wheeling and dealing tomorrow. right now the dow was trying to find direction, down this .10 points. a downturn after being ordered to pay nearly $1.2 billion in damage in a patent infringement lawsuit. sued for infringing patents related to data storage technology. edmunds.com predicting new car sales will slow in the new year but still plenty of optimism in the auto industry. consumers will continue to benefit from new models, new technology potentially lower prices as automakers continue to fight for market share. we continue "countdown to the closing bell" with ashley webster. ashley: let's go to nicole petallides at the floor of the new york stock exchange. shares of rim, research in motion. rim it is for real. shares of research in motion. research in motion has been beaten down the past couple of sessions. concerns of a new structure put in effect, and what they were going to do is use a tear factor, those tiers, is unclears unclear how they were going to break down. it contributes to the research in motion
ABC
Dec 26, 2012 6:00pm EST
smaller simpler deal that delays the toughest issues could get us over the fiscal cliff gently. >>> starbucks is taking a stand on the fiscal cliff. the chain's ceo is asking stores to write "come together" on the coffee cups they sell tomorrow. starbucks says workers are not required to write the message though. >>> there is a positive sign for the economy that housing is rebounding. home prices were up more than 4% in october compared to a year ago. that's the biggest percentage gain in more than two years. despite increase home price are still down 29% from the peak in june of 2006. >>> it's become as much of a seasonal shopping tradition as black friday, the day people return gifts and look for a better deal. >> reporter: earlier today it looked and felt like the day after christmas with the falling snow and people in their cars sloshing their way to the stores in the mall. >> my aunt gave me a gift card to macy's. i was going to see what they have. if there's something i like, i will get my mom to buy it. >> i don't have any returns. >> i'm returning my coach purse because
ABC
Dec 26, 2012 6:00am PST
hoping a few keywords will encourage republicans and democratses to reach a deal to avoid the fiscal cliff. this morning the ceo shulz asked all of his washington, d.c. employees to , come together. >> if you are looking to turn that ugly sweater -- to return that ugly sweater from aunt imagine, today may not be the best -- day. >>> good morning. more signs of recovery in the housing market numbers show home prices climbed in the 12 months through october by the most in more than two years more than 4% gain if you look on the month-to-month increase, san francisco coming in number five, las vegas had the biggest monthly gain. christmas is over, let the returns begin. if you received any gifts you don't want, you might want to wait a few days to return it. today is the worst days to do returns because the lines are longest, store clerks burned out. in the markets, pretty quiet at the moment]ó;o, slight gains for the benchmark averages as well as bloomberg index, a lot of wait and see. as people unwrap new gifts a green citizen says don't forget to recycle old electronics, it expects
FOX
Dec 26, 2012 7:00am PST
vacation short to face the fiscal cliff. is he leaving hawaii for washington tonight. if lawmakers don't come up with a deal before the deadline your tax refund could be delayed by months. we are live in the washington bureau to explain more. >> reporter: brian the irs said without a deal as many as 100 million taxpayers may be forced to wait until march to file their tax returns. congress has to vote on the wealth tax and it needs to be adjusted for inflation. both partisay they would agree to it but it's all tied up in the fiscal cliff mess. tax filing season starts next week but the irs would put a hold on that for some. officials would wait for a deal in the new year instead of doing serious reprogramming to their tax system. filing would then be pushed back to march for millions. with refunds coming much later than usual. especially for those who plan on paying off credit card bills that often pile up after the holidays. now all of this could be avoided a deal before the deadline monday night but some long time lawmakers fear it won't happen, more on that when i see you next. live in washington. >> oil prices
CNN
Dec 26, 2012 4:00am PST
indicating only half of americans believe congress will strike a deal to avoid the fiscal cliff by the end of the year. the poll shows 50% thought a deal was very sore somewhat likely. 48% said a deal was not likely, a much tighter than a poll earlier this morning. president obama cutting short his hawaii vacation, he should arrive in washington tomorrow when the senate and the house reconvene. >>> andruw jones free on bond after being arrested outside of atlanta on christmas day on a battery charge. the gwynnet county detention center says there was an apparent domestic dispute with his wife. he played with the new york yankees last year and recently signed with a team in japan. >>> los angeles is deciding to push up its gun buyback program. in originally set for next may but it will happen today. mayor antonio villaraigosa will hand out grocery cards in exchange for guns. >>> david gregory described a 30-round magazine during a "meet the press." >> a magazine for ammunition that carries 30 bullets. if we replaced them and only have a magazine that carries five or ten bullets, isn't it possible we could reduce a carnage? >> i don't believ
FOX News
Dec 26, 2012 3:00am PST
to the white house to work on a deal to avoid the fiscal cliff. peter doocy live in washington with more on the last-minute deal making. hey, peter. >> hey. president obama is still going to be able to squeeze in one more day of vacation in hawaii before he leaves his wife and daughters hyped and boards air force one for dc at about 10:00 p.m. in honolulu, 3:00 a.m. eastern time. that should get him back to the white house sometime tomorrow, thursday morning, on the back end of a break he says he hopes will get lawmakers on the same page. >> everybody can co- opt, drink egg nog, have christmas cookies, sing some christmas carols, enjoy the company of loved ones and then i'd ask every member of congress, while they're back home, to think about that. think about the obligations we have to the people who sent us here. >> speaker of the house, john boehner, is expected to come back to washington at any time as well. before he went back to ohio and president obama went to hawaii, they were believed to be about $400 billion apart in spending cuts and tax increases. speaker boehner even had to withdraw the so-called plan b m
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